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Discussion Starter #1 (Edited)
I Thought seeing as though the resource consent for 8 Willis Street was approved this week I would make a thread for the development. I'm still not sure what the scope of the work will be, but it seems likely that this proposal will go ahead.

essentially the development is two-fold:

The first part is the redevelopment of the buildings at Stewart Dawsons Corner and is already under-construction. Initially, this stage was the only stage of the development and the plan was to simply demolish behind the heritage façades of the three buildings that make up the Corner and construct a large retail building behind them. Some of this work has already taken place: the buildings have been demolished and some foundation work has also occurred. Then earlier this year a second consent was applied for, which involved the redevelopment of the tower at 8 Willis Street and the extension of this tower sidewards on to the site in question. Therefore, the proposal for the Stewart Dawsons stage of this development is largely unaltered; it will still be a large retail building comprising three floors but now it will have the tower's side extension above it at the rear of the site.

The second part is the redevelopment of the small 1980s office building at 8 Willis Street. The proposal is to extend the building on three fronts: the building will be extended frontwards, bringing it to the street edge; it will be extended sidewards, a new 7 storey tower will be built beside the existing building and above the 3 storey retail building at Stewart Dawsons Corner; finally, it will be extended upwards, adding 3 storeys to the, at present, 8 storey building.

The owners of the buildings at Stewart Dawsons Corner and 8 Willis Street, Argosy, are yet to confirm exactly which parts of this project are going ahead. It could be the case that nothing is happening to the tower at 8 Willis Street and the only work being done is the construction of a new building to effectively replace the old ones behind the façades at Stewart Dawsons Corner. However, there are several indications that the whole development will take place, namely: this resource consent is the first issued for any major office development since the severe shortage in office space arose - it would be the first off the starting blocks; work commenced on the demolition work on the buildings at Stewart Dawson's Corner sometime ago and now it seems like nothing much has happened for a few months, therefore, it would suggest that they were waiting for the second resource consent to come through; and finally, the building at 8 Willis Street seems to have few tenants left in it, suggesting it has been emptied for the purpose of redevelopment.

As spoken about in the news thread, it's likely that Argosy has one or more flagship retailers lined up for the Stewart Dawsons Corner building, as the space created in the retail section of this building is the size of a small department store. Whether or not both parts of this development go ahead, this will still be the case. In addition to this, retail space will also be created on the ground floor of 8 Willis Street.

The renders for the tower shows solar panels and I understand that Argosy is pursuing an excellent energy efficiency for the new buildings.

The contractors for the build are McKee Fehl, the engineers are Becca, and the architects are Architecture Plus.

Architecture Plus (and McKee Fehl) seem to be very experienced at building conversions like this; the recent development for Transpower on Boulcott Street and DOC's office on Manners Street were all these types of conversions.

Here's a few renders:













And here's a photo showing the present (well up until a year ago) state of the buildings, the Stewart Dawsons buildings are the three heritage buildings and 8 Willis Street is the verdigris building next door:

 

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This is a great development. I would say it's also certain to go ahead given all the demo work that has happened.
 

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Discussion Starter #3
I had a bit of a snoop around this building the other day, as I thought it's pretty much empty in terms of tenants, here's a photo of the tenant board:



I'd say that if the office development is going ahead, Argosy would already have a tenant lined up (or else we probably would've seen it advertised already).
 

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I had a bit of a snoop around this building the other day, as I thought it's pretty much empty in terms of tenants, here's a photo of the tenant board:
Also the Reserve Bank are only camping there while asbestos is removed from their Terrace building, and it looks like they will be moving back fairly soon...

2 The Terrace building update

Release date
02 November 2018

Asbestos remediation work at 2 The Terrace is ahead of schedule with tenants starting to move back into the building from Monday 5 November along with the re-opening of the Museum and Education Centre. Asbestos remediation work will continue in parts of the building, however the Reserve Bank expects disruption to be kept to a minimum.

As part of the remediation work, the Reserve Bank is making some scheduled (non-asbestos related work) changes to the reception area on the ground level.

The Reserve Bank is supporting tenants as they make arrangements to move back into the building. Tenants include the Parliamentary Commissioner for the Environment, Parliamentary Counsel Office, State Services Commission, and NZ Defence Force.

All Reserve Bank operations continue to be unaffected with operations out of temporary premises in Wellington and the Auckland office.
https://www.rbnz.govt.nz/news/2018/11/2-the-terrace-building-update
 

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Looks like there is framing going up for the tower behind the Stewart Dawson buildings. No action on the existing office block - i imagine it will be staged.
 

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Discussion Starter #6
Looks like there is framing going up for the tower behind the Stewart Dawson buildings. No action on the existing office block - i imagine it will be staged.
Yeah I noticed that the other day and I wasn't sure what to make of it, that's to say I wondered if they were only going ahead with the rebuilding of the Stewart Dawsons buildings, but then I noticed that the top level of the framing structure had the beginnings of what looked like the diagonal, k-bracing frame shown in the renders for the new tower, so I guess that's quite a good sign.
 

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Discussion Starter #9
^^

I had the documents sent to me and you're right.

It says that a tenant has been secured for the development and that this tenant requires larger floor plates. Therefore, the change of condition is for the addition of a cantilever to the portion of the building behind Stewart Dawsons Corner. Essentially this is just a 4 metre wide clip-on to the glazed part above the Stewart Dawsons roofs.

So I take this as confirmation that Argosy are definitely going ahead with the development (I had my doubts).

I wonder who the tenant is? It's obviously a large organisation to take on the whole building, which I think is roughly 13,000 sqm.
 

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I hope they are still planning on redeveloping the existing tower by bringing it out to the footpath. I notice the tenants are still there so i'm guessing it will probably be a while before (or if) that part gets underway.
 

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Discussion Starter #11
I hope they are still planning on redeveloping the existing tower by bringing it out to the footpath. I notice the tenants are still there so i'm guessing it will probably be a while before (or if) that part gets underway.
I'm 99% sure that the whole development is going ahead.

The consent situation might be a little confusing, but essentially the whole development - including the additions to the exisiting tower, the side tower, and the Stewart Dawsons buildings - are all the one consent i.e there would be no change of condition application to the original consent if they did't intend to go ahead with that consent and you couldn't build one part of the consent but not the other (all three elements of the development are effectively one building). There was an earlier consent for the redevelopment of the Stewart Dawsons buildings alone: this was simply the gutting of the heritage buildings and construction of a new building behind the façade, but this is no longer in play (or at least they're free to go ahead with this one, but only if they completely abandoned the other one).

This new change of condition application is for the enlargement of the floor-plates on the second consent, which is to be achieved by pushing out the floor-plates on the side tower, nothing else changes with the wider development.

As for when they're going to press ahead with construction, I'm uncertain about this too. It seems that the Reserve Bank are still operating from the building (even though I thought their building was back in operation) so I wonder when their lease runs out (there are also other organisations there as well).

I went up and had a look from the service alley off Boulcott Street the other day and there has been no additional steel framing added upwards from what can be seen in the last photo that I shared (there has been other work lower down and to the façade) and so they obviously have to wait to get permission to include the extended floor-plates (the point they're at now would be roughly where they need to start adding the larger plates), so the lack of work doesn't concern me.

I guess it's now really a matter of timing; they'll want to get the retail building leasable as soon as possible, but at the same time they have to contend with the fact that they need to construct an office building at the side and the rear.
 

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Quick update on this one (without any pictures unfortunately)- no noticeable change in height but most of the shops below the 8 Willis Street building have been emptied out and work seems to have started on removing the awnings above the footpath, so I guess we can confirm for sure that the development in its entirety is going ahead.
 

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Quick update on this one (without any pictures unfortunately)- no noticeable change in height but most of the shops below the 8 Willis Street building have been emptied out and work seems to have started on removing the awnings above the footpath, so I guess we can confirm for sure that the development in its entirety is going ahead.
Great... just great, more temp Verandahs , just as winter is coming....

Now I think this development is good, but the logisitics are going to be a nightmare,

We will have temp shelter all the way from the AA centre all the way up to beyond the grand arcade....

The Bus stop there is already really really congested with people at the evening peak, if the construction results in reducing the footpath/bus stop width any more it will be come a real mess.....
 

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Discussion Starter #16
Some photos from today.

As reported on already, the verandah in front of 8 Willis is being demolished and the shops have been vacated. It also seems like the building is now pretty much empty of office tenants, so the full redevelopment must be near.



 

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Discussion Starter #17 (Edited)
Full steam ahead for 8 Willis

Great news: 8 Willis development to be leased by Statistics NZ.

$64 million development planned for Wellington CBD Argosy is pleased to announce it is undertaking a $64 million development at its 8-14 Willis Street
property in Wellington’s CBD.

The development will create a substantially new 11 Level, 11,800m2 building that will target a 6 Green Star Built rating and 5 Star NABERSNZ energy
efficiency rating.

Construction is expected to take 24 months and be completed by April 2021.

Argosy has entered into a new 15-year lease with the Crown (Statistics New Zealand) to occupy the entire building, other than the 500m2 ground floor retail component. Argosy is in current negotiations for a lease on this space.

Like many Crown departments, Statistics New Zealand are focused on sustainability and agile working environments. This means creating flexible,
adaptable and productive work spaces for employees. The building will be designed to attract and retain staff, encourage creativity and collaboration to deliver a more effective public service.

Following the successful collaboration with McKee Fehl in the redevelopment of 15 Stout Street in 2013-14, Argosy has engaged them as the ‘design and build’ construction contractor. Argosy’s obligations to the Crown in this project are reflected in our agreement with McKee Fehl.

During construction the building will be strengthened to 130% of New Building Standard. It has an independent valuation on completion of $94 million. The development is projected to deliver an internal rate of return of 8.2% and a 7.2% initial yield.

Argosy Chief Executive Officer Peter Mence said “We are very pleased about working with statistics New Zealand and this development is consistent with our strategy of creating value through the execution of Value Add opportunities. The green development will see Crown employees benefit from a refurbished building delivering a modern, functional and appealing workspace environment. Argosy investors will benefit from a new high quality and modern asset in the portfolio and an increase in net tangible asset backing.”
 

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Discussion Starter #19
^^

H&M would be crazy to miss it.

Though, I wonder what the timeframe for the retail component is. If the office building isn't getting completed till 2021, will it all open at the same time or can it be staged? I mean the retail building behind the Stewart Dawson's façade is much more advanced than the rest of the development, but I wonder whether they'll be able to open this before the rest of it is complete.
 

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^^

H&M would be crazy to miss it.

Though, I wonder what the timeframe for the retail component is. If the office building isn't getting completed till 2021, will it all open at the same time or can it be staged? I mean the retail building behind the Stewart Dawson's façade is much more advanced than the rest of the development, but I wonder whether they'll be able to open this before the rest of it is complete.
They opened in Commercial Bay in AKL, what, a year ago? And that development is still far from finished.
 
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