Advertising, marketing & media investment company GroupM Ltd has signed a 5-year lease on 1200m² of the completely refurbished 22 Fanshawe St, including naming & signage rights.
Originally the Kensington Swan building and more recently known as Tower House, the 12-storey office building at the foot of Federal St will become GroupM House in February.
GroupM is the parent company of WPP media agencies Mindshare, MEC, MediaCom & Ikon, public relations agency PPR and creative agency BCG2. 120 employees will move to their new premises from 1 Cross St, Newton, & 11 Westhaven Drive, Westhaven, joining current tenants Robert Walters & Solo Espresso Café.
JLL tenant representation division associate director Debra Payne, who acted on behalf of GroupM, said proximity to public transport, local amenities & overall improvement in quality of premises motivated GroupM’s choice. Parking space was also a factor.
“At this stage in the cycle, with the influence of positive business sentiment, we are seeing tenants look to upgrade to better quality buildings with improved access to public transport and proximity to amenities for staff. Staff attraction & retention is becoming increasingly important to businesses where there is competition for skilled employees, and this plays a large role in future occupational considerations by business leaders.
“GroupM were seeking a modern building in a cbd/city fringe location that offered something unique to allow them to create an innovative & distinctive tenancy that matched the GroupM brand. 22 Fanshawe St provided the perfect solution for GroupM to rethink their old workplace design and apply some new & innovative solutions to meet their future needs.”
WPP is a global corporate client of JLL.
The building’s owner, TEL Property Nominees Ltd, is ultimately controlled by international investor Sterling Grace. Its $350 million 7-property New Zealand portfolio includes 2 other Auckland office buildings, 2 Auckland industrial properties and the Bayfair mall at Mt Maunganui.
Attribution: Agency release.