Capital Properties renew lease of SSC Building

Capital Properties announces renewal of lease in State Services Commission Building, 100 Molesworth Street, Thorndon, Wellington.

Capital Properties New Zealand Limited announced today that the State Services Commission has renewed the lease of 5 levels of office premises at the State Services Commission Building.

The lease renewal is for a term of 6 years commencing 1 April 2006. The lease is for 6,698 square metres of office, storage premises and carparking. The taking up of the lease renewal increases the weighted average lease term of the building to 11.3 years from 8.3 years currently.

The State Services Commission Building was built circa 1986 and comprises a 5 level office building, ground level retail premises and basement car parking and storage space.

State Services Commission lease all the office space in the building. National Library of NZ is the other major tenant, using 4,414 square metres of basement space for storage under a lease expiring in 2030.

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