The Precinct
Central Park is a highly unique business precinct with 46,787 sqm of predominantly office NLA across 12 buildings. The precinct benefits from 1,699 car parks, which are located in the southern and northern car park buildings, as well as Building 9.
The buildings are positioned on a prominent 4.85 ha site, with generous planning controls and an uncapped GFA.
Along with the Green, the precinct has been further activated with the recent development of 83 medium density terrace houses and the La Quinta Hotel with 104 rooms. These developments adds a 24/7 lifestyle component to the precinct.
46,787 sqm
Net Lettable Area
$355 psqm
Average Existing Precinct Net Rent
5.3 years
WALE by Income
1,699
Car Parks
86%
Occupancy
12
Separate Office Buildings
*achieved above acquisition rents over the vendor’s ownership
The Buildings
| Building | NLA sqm | % NLA | Base Rent PSQM | % of Precinct Base Rent | WALE (Yrs)1 | Key Occupiers | Tenants |
|---|---|---|---|---|---|---|---|
| Building 1 | 5,689 | 12% | $441 | 13% | 3.4 | Bunnings, Turners & Growers | 3 |
| Building 2 | 3,898 | 8% | $324 | 6% | 2.6 | Cardlink | 7 |
| Building 3 | 3,892 | 8% | $334 | 8% | 3.1 | Electoral Commission | 9 |
| Building 4 | 1,707 | 4% | $0 | 0% | 0.0 | - | 0 |
| Building 5 | 6,538 | 14% | $329 | 13% | 1.7 | Netball NZ, Sealord | 23 |
| Building 6 | 3,023 | 6% | $269 | 5% | 3.9 | Ford, George Western Foods | 4 |
| Building 7 | 5,207 | 11% | $433 | 15% | 3.9 | NZ Health Partnerships, Restaurant Brands | 6 |
| Building 8 | 6,823 | 15% | $360 | 13% | 4.0 | NZTA, Turners Group, Bidfood | 7 |
| Building 9 | 1,145 | 2% | $141 | 1% | 2.5 | Lollipops Childcare | 4 |
| Building 10 | 3,777 | 8% | $372 | 9% | 3.6 | Estee Lauder, CPSO | 12 |
| Building 11 | 3,393 | 7% | $641 | 14% | 22.5 | KiwiRail | 12 |
| Building 14 | 1,696 | 4% | $320 | 4% | 1.8 | Mars NZ, CBRE | 2 |
| Total | 46,787 | 100% | $355 | 100% | 5.3 |
1By income. Excludes car parking.
Diversified NLA and Income Stream Across the Precinct
Industry Exposure by NLA
