Precinct Properties has announced plans to commence construction on $305m One Queen Street redevelopment project in New Zealand.
The mixed- use community is located in Auckland’s city centre, at the waterfront end of Queen Street with frontage to Quay Street.
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The fully integrated building will include the 139-room luxury InterContinental hotel and 14,000m2 of premium grade office accommodation.
It will also include a roof-top bar on Level 21 along with a variety of food and beverage outlets.
Levels six to 11 of the building would include the hotel and the balance of the floors on Levels 12 to 20 will accommodate premium grade office space.
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The overall leasing commitment for the mixed-use project is 59%. Law firm Bell Gully has already obtained 4,400m2 of office space in the building.
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By GlobalDataConstructed in 1972, One Queen Street was refurbished in 1998 to provide A-Grade office space.
The project will complement the $1bn Commercial Bay lifestyle precinct, which was opened almost one year ago.
Located between lower Queen and Albert Streets, the development includes five commercial office towers and connects all of them with a retail centre in the middle.
The retail centre has 120 local and international fashion brands, health and beauty amenity, bars, restaurants as well as eateries.
Construction work on the One Queen Street redevelopment will be undertaken by LT McGuiness on a fixed price contract, with completion expected in late 2023.
Precinct Properties CEO Scott Pritchard said: “One Queen Street occupies one of the most prominent positions within Auckland’s city centre.
“We believe this world-class mixed-use development will further enhance the world class destination we’ve created at Commercial Bay and support the attraction of visitors, and tourists as they start to return, to dine, shop, socialise and stay in the city centre.”
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Rendering of the $305m One Queen Street redevelopment project in New Zealand. Credit: Precinct Properties Limited.
