Vision Formers

A willingness to negotiate has seen the landlord of No 1 Queen Street, Auckland, successfully buck the trend of increasing office vacancies to secure the NZ Transport Agency as a major tenant.

Helping bridge the gap between what the tenant wanted and what the landlord was offering, were The Building Intelligence Group.

The newly formed NZTA called on The Building Intelligence Group to help identify its accommodation needs and explore economically viable options for housing 190 staff previously housed under the separate umbrellas of Land Transport New Zealand and Transit NZ.

HSBC House at No 1 Queen Street was quickly identified as desirable, but there were issues, including the need for upgrading works to meet NZTA's long-term requirements.

A key part of the deal therefore was that the landlord would be responsible for upgrading the building services as a result of the retention of NZTA within the building, says The Building Intelligence Group senior project manager Kevin Carroll.

"The landlord's ability and willingness to accommodate better conditions for the tenant not only gave NZTA the economically viable solution they sought, but has ensured that the landlord retained a major long-term quality tenant," Kevin says.

No 1 Queen Street Ltd property manager Lohsing Cheng always believed the value of being able to take a wider perspective as a building owner would pay dividends now more than ever, but found the process of renegotiation greatly enhanced with the involvement of a consultant that was technically savvy and realistic about what could and couldn't be achieved.

"The Building Intelligence Group were able to successfully bridge any differences which arose by being able to put themselves in the shoes of the landlord and the tenant. In doing so, they simplified what was a large complex process by providing simple, rational options to both parties."

The Building Intelligence Group are now project managing the fitout of NZTA's offices at No 1 Queen, due for completion December 2009