Auckland’s city centre is the engine room of Auckland’s economy and is home to a high proportion of the country’s business and financial services.
Along with unique historical and natural heritage, it’s a hub for cultural activities, tertiary education and major events. With its waterfront setting, it has the potential to become one of the world’s most stunning and exciting business and residential districts.
Just over 30,000 people live in the city centre, and 80,000 workers, students, shoppers and visitors travel here every day between 7am and 9am. One in seven Aucklanders now work in the city centre.
Regeneration of the city centre sits primarily with Auckland Council, and the council family including Panuku is working to deliver more than 40 capital projects in the area.
Panuku is currently working on the following projects of significant importance to the regeneration of the city centre:
Civic Administration Building – Private developer Love & Co.'s associated company Civic Lane Limited will completely renovate and refurbish the former council building and develop the surrounding land. The proposed development of the Civic Administration Building, branded as The CAB, features residential apartments tailored to all lifestyles on the upper floors and a concierge and food and beverage facilities on the ground floor. There will also be a swimming pool, gym and private movie theatre. Within its vibrant laneways there will be a new apartment building on the Greys Avenue-Mayoral Drive corner, a boutique supermarket, luxury hotel, artisan food offerings and contemporary dining. The CAB is located in the heart of the arts and theatre district and will be only moments away from the new central rail station. Building works have begun on The CAB and will take up to three years. The entire development is scheduled for completion in 2020.
Wider Aotea Quarter – Exploring other development opportunities with RFA.
Britomart precinct – Continuing to work closely with Britomart Group to optimise the development of this most successful urban renewal project, particularly as it can complement the Britomart Transport Centre.
Commercial Bay Development – Managing the council’s role in the development agreement with Precinct Properties, particularly in relation to the planned sale of Queen Elizabeth Square and development of replacement open space by the sea.
In the longer term, assessing options for the development of the Downtown Car Park and West Bledisloe site in conjunction with Auckland Transport and Auckland Council.
Panuku also has an advisory role assisting Auckland Council with commercial negotiations for the restoration of St James Theatre and the potential sale of high value property assets.