Contemporary, sustainable office space for lease as market tightens further
As the squeeze on central Christchurch office space tightens, certified sustainable space in a stunning, architect-designed building in the Christchurch Innovation Precinct is available through CBRE.
The top two floors in the five-level One NZ Innov8 building, constructed in 2016 at 213 Tuam Street, are offered under new terms: with the opportunity to negotiate directly with a highly experienced, accommodative New Zealand-based landlord, PMG Funds.
Mitchell Wallace, associate director of office leasing at CBRE Christchurch, said the building, which was designed by renowned architects Jasmax and is an icon of the post-earthquake central city rebuild, provides the rarely-available chance to occupy stunning, contemporary office space in the CBD.
“The opportunity for businesses to occupy all or part of these flexible spaces in a fivestar Green Star Design accredited building can not be easily replicated in the current Christchurch CBD office market. Available office space is now extremely scarce and tenants looking for a CBD address have very few options.”
Christchurch CBD office vacancy fell to 3.1% in December 2023 from 5.7% six months earlier, according to CBRE Research.
The floors, which are around 1780 sqm in size, are ideal for larger tenants looking to establish a presence in Christchurch, or businesses looking to move to bigger offices. They are the only options currently available in the CBD for tenants requiring newly-constructed, large floor plate spaces.
They could be particularly suited to tech-related businesses, given the Innovation Precinct location and Christchurch’s status as a tech incubator city actively supporting startups and investors, Wallace said.
“Many local success stories, including Cerebral Fix and Lumin, either started in the Innovation Precinct or are now based there. These businesses continue to put Christchurch on the map, along with the many multinational tech heavyweights which also have a presence in the city.”
The two floors provide show-stopping views over the city and Port Hills and are fitted out and ready to occupy for open plan working. Level four offers a corporate-grade business environment, while level three is an industrial chic-style space with exposed services and a blacked-out ceiling.
The building features a stunning, double-height entrance atrium clad in natural timber, as well as leading-edge wireless technology throughout the building. PMG is about to start significant base build upgrades, including a renovated main entrance lobby and end-of-trip facilities. Ample car and bike parking is also provided.
Offered on a direct lease basis for the first time, PMG is keen to work with potential tenants to achieve an optimum solution, said Jamie Reid, general manager property at PMG.
“PMG strives to be the landlord of choice nationally and we are invested in our tenants’ success. Our highly experienced local asset managers will work closely with tenants to understand their businesses and what they need from the space, to optimise productivity, staff wellbeing and collaboration.
“Sustainability is an increasing focus for occupiers when making property decisions and we acknowledge PMG’s unique opportunity to play a prominent role in leading the sector. We also value bringing our tenants and suppliers along for the journey, to drive positive climate action and facilitate long-term change.”
The building is ideal for ESG-focused tenants, with passive solar design and a high-performance façade to maximise natural light while reducing temperature gain. It also features a highly efficient ventilation system, automatic LED lighting, water metering and alarmed HVAC leak detection technology.
It occupies a prominent location just half a block east of the upcoming Te Kaha Stadium. This project, along with continuing residential development in the area, are expected to fully activate the eastern frame area of the Christchurch central city over the next couple of years, as the number of residents and visitors increases, Wallace said.