Starline starts on Quay Park project

By Campbell McIlroy

Friday 7th December 2001

Developer Jamie Peters' Starline Group has started building the first stage of its $300 million East on Quay office park in Auckland's Quay Park.

Starline Group general manager Brian Sutton said the $26 million first stage was about 60% pre-let to tenants including GTF Capital, Landplan and Digital Mobile.

He said most of the tenants were more up and coming companies of a small to medium size.

The two buildings in stage one total 7400sq m on 1200sq m floor plates with rents averaging $270 a sq m.

Mr Sutton said he believed the Viaduct had shown a desire in the market for lifestyle office products but was not concerned the Viaduct had drawn the CBD away further to the west. "We see the two as very complementary, especially seeing as the full signs are up in the Viaduct."

One tenant said with the amount of work to be undertaken around Britomart it provided much easier access from the Eastern suburbs.

The first stage is scheduled for completion in November next year with another two major stages, as well as sub-stages, also on the drawing board.

Mr Sutton said the development also had a high proportion of car parking with 110 car parks in the basement of each of the first two buildings, and consents in place for a 950-bay car park building.

Starline Group subsidiary Gulf Corporation last year paid over $55 million for the development land at Gulf Harbour on the Whangaparoa Peninsula.

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