Office space for lease in former Regent Theatre site on Cathedral Square

Office space in a major new building planned for the former Regent Theatre site on Cathedral Square, Christchurch, is now available for lease through sole agents CBRE.

CBRE commercial leasing broker Mitchell Wallace said the building is being offered for lease at a time when the Christchurch CBD office vacancy rate has plummeted to below its pre-earthquake level, according to CBRE’s latest CBD office vacancy survey.

Exceptionally strong take-up of vacant office space since December

2020 has pushed the overall vacancy rate down from 10.4 per cent in December to 7.6 per cent in June, said Wallace.

Developed by prominent local property investor Carter Group, the Regent Building will be constructed on one of the most prominent commercial sites in the city, at the western end of the Square opposite the cathedral itself.

The 2034 sqm site, which has sat vacant since the demolition of the Regent Theatre following the

2010-2011 Canterbury earthquakes, is now set to be reborn with a leading edge, architecturally striking, sustainably designed premium office building which will become a new landmark on Cathedral Square.

Designed by Wilson & Hill

Architects, the building provides a solid corner to the square that relates to the scale and proportions of the Old Post Office building next door. It will capture an abundance of natural light through extensive glazed facades, as well as incorporating angled view shafts orientated to the square.

Wallace said the development, which is targeting completion in early 2024, will display exceptional build quality to a minimum of 100 per cent of new building standard. Sustainability is also front of mind for the developers.

‘‘The building will be completed to a minimum NABERSNZ sustainability rating of four stars, with state of the art end of trip facilities to make carbon-neutral modes of commuting highly attractive.’’

Adam Wallis, commercial leasing broker at CBRE, said Carter Group’s plans for 33 Cathedral Square are significant not only in terms of the size of the building, but also because it provides occupiers a chance to re-enter the historical heart of O¯ tautahi Christchurch and secure a renowned position within the city that can’t be replicated.

‘‘Superbly positioned directly facing the cathedral across the open public space of the Square and just south of the new Te Pae Christchurch Convention Centre, this stunning building will take pride of place among some of Christchurch’s most iconic landmarks in the undeniable heart of the city,’’ he said.

The approximately 4000-sqm building will include high-end retail space on the ground floor, three levels of premium-grade offices and 38 car parks. Each large, open plan office floor will be around 1000 sqm, to accommodate single businesses or split into smaller spaces, said Wallis.

‘‘This is a highly compelling opportunity for businesses looking to make a move back into the CBD.

With floor to ceiling windows around the north, east and west aspects and an outlook over buzzing Cathedral Square, this is a truly premium building offering tenants the very best in contemporary workspaces.’’