“Growing trend of occupiers vacating earthquake prone buildings”

August 3, 2012 at 2:15 pm

APN New Zealand announced on 31 July 2012 that the newspapers office which publishes local paper Hawkes Bay Today is to relocate from its existing premises in Karamu Road North, Hastings. The existing building which is stated as being in excess of the 34 per cent seismic performance score is not regarded as safe enough for the newspapers staff. They will move in March 2013 to 301 Heretaunga Street East, even though their existing lease does not expire until 2015. This building is undergoing refurbishment and will meet 100% of the current building code.
The move follows close on the heels of the NZ Post move from their building on the corner of Hastings and Dickens Street in Napier for similar reasons. NZ Post are now located in a building that is 100% compliant to the current building code, which is at Napier Central in Wellesley Road, adjacent to occupiers No 1 Shoe Warehouse and Bond & Bond. They have taken a two year lease while strengthening works are undertaken on their Hastings Street office.
This trend of occupiers deciding to vacate high seismic risk properties is likely to grow. Tremains have also decided to vacate their Taradale office on Puketapu Road for this reason. This building will be demolished and Tremains will re-occupy part of the new property.”

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Entry filed under: Commercial/Industrial, General Interest.

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