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Discussion Starter #1
I thought seeing as though the proposed second stage of the Bowen Campus is a completely different kettle of fish to the under-construction and soon to be finished first stage, I should make a seperate thread for the new development.

As alluded to, stage one will be finished early next year: the two old buildings, which were built in the 60s and 70s, have been extensively modernised and strengthened over the last few years and are set to be fully occupied by Government tenants when they are completed (the Ministry of Defence has take one of the buildings but I'm not sure who the other tenants are). The budget for this stage was $203m.

Stage two is a proposal to build two new buildings at 40 and 44 Bowen Street. These sites sit behind the present Bowen buildings and are currently used as carparks. The budget for this stage is $160m.

If completed in toto, the four buildings will become the largest single office complex in New Zealand, representing over 60,000 m2 of floor space and accomodating approximately 5,000 workers.

To service this large number of people, there will be laneways running between the buildings and the ground floors will house numerous retail ventures. There is also the potential for Parliament to turn the carpark in front of the Bowen Campus into more of a green, people-friendly space - at least, having 5,000 more workers in the area might advance this cause.

Depending on the success of the leasing programme, construction will be staged, starting with 40 Bowen Street.

40 Bowen Street is 11,000 m2 and 7 storeys high; 44 Bowen Street is 12,000 m2 and 8 storeys high.

The buildings are being advertised currently on the open market and are suitable for either Government or commercial tenants. Given the acute shortage of prime office space in the Wellington market, the buildings could be leased fairly quickly.

The architects for the two buildings are Tennent and Brown and I believe it is their first large commercial project.

The engineers are Dunning Thornton who are employing fluid viscous dampers for seismic protection (as opposed to base isolation).

It is being developed by Precinct, who are also the developers of stage one.

Precinct are suggesting that the completion date could be late 2021, which seems to me very optimistic (to my knowledge they haven't even applied for a resource consent).

The website: https://precinct40and44bowen.co.nz/


The map:




Here's some renders:








A fly-through video:


A fly-over video of stage one which shows quite well how stage two will fit in:

 

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Discussion Starter #2
I see Precinct has upgraded their website and it now includes this page devoted to the Bowen Campus development: https://www.precinct.co.nz/bowen-campus

I suspect we'll be hearing more about the second stage in the next few months.

And some more renders:







 

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Discussion Starter #3
Precinct's latest investors' presentation says this:

Bowen Campus Stage Two

- resource consent obtained (that's news to me)
- early discussions underway with occupiers for around 12,000 sqm

All in all it sounds fairly promising.

Also suggested in the presentation was that Precinct were looking at developing the food court and retail area at the Aon Centre ("Taste on Willis retail project has commenced with initial design phases underway").

https://www.precinct.co.nz/web/assets/general/FY19-Precinct-Interim-Results.pdf
 

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Also suggested in the presentation was that Precinct were looking at developing the food court and retail area at the Aon Centre ("Taste on Willis retail project has commenced with initial design phases underway").
About damn time, that place has been languishing since the BNZ left, JBHiFi appear to be making a go of it, but the rest of the retail appears to be space fillers.....

Also in the that report was that they have quietly snuck an extra floor into the tower, adding a 800 sqm mezzanine to the Double height top floor (regular floors in that place are around 1000sqm)

Also of note is Treasury have moved from their Tower into the Podium at No1 the Terrace, and that after refurbishment someone else will occupy the Tower,-( and it doesn't sound like its a Govt tenant)
 

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Discussion Starter #5
Latest from Precinct's Annual Results:

- Pastoral House conditionally sold for $77m.

- Bowen Campus Stage Two:
- Leasing progressing, consents completed, enabling works underway and construction expected to commence within a year.​
 

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Discussion Starter #10
Demolition work has started (and almost finished) on the underground car park on this site, which I guess is a good sign that this project is still going ahead (despite the current situation).
 

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Building One is all go, lets hope that once things settle down over the next few months they can get leasing for the second building over the line...

Precinct Properties New Zealand (Precinct) (NZX PCT) is pleased to announce today it will shortly be commencing construction of the Bowen Campus Stage Two office development in Wellington. The project will be undertaken on a pre-committed basis with leasing to EY and Fujitsu secured totalling 4,093 square metres of office space on a weighted average lease term (WALT) of 9 years.
we are very pleased to be progressing the development of the second stage of Bowen Campus. Being able to advance one of the two new office buildings at Bowen Campus is a great result amidst the challenging environment we have been presented with over the last few months.
 

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Discussion Starter #12
Building One is all go, lets hope that once things settle down over the next few months they can get leasing for the second building over the line...





It is good news and hopefully building two will also be built pretty quickly. A lot of firms and government agencies are moving to new buildings so I guess there’s still a chance to get leases secured in the current environment.

Also work on the Z site (the new BNZ tower) has started in earnest so hopefully that’s still all go.

Also to report is that The Wellington Company has engaged Architecture Plus to refurbish and strengthen old Massey House for office space, which is great news for an important building that has been neglected for so long.
 
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