SUPPLIED
Artists impression of the new ‘urban hub’ in Wellington’s Westpac building.
Property magnates the Chow brothers are refurbishing an office building in central Wellington to create a shared office space.
Michael and John Chow confirmed refurbishment work had begun on turning three floors of the Westpac building on Lambton Quay into an “urban hub”.
The brothers, who have made an estimated $75m fortune from brothels, hotels and commercial property deals, bought the building in 2010 for $26 million.
ROSS GIBLIN/FAIRFAX NZJohn, left and Michael Chow bought the Westpac building on Lambton Quay in 2010 for $26 million.
That building is part of a 18-strong property portfolio valued over $200m which includes The Mermaid strip club and Capital Market food court in Wellington.
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The urban hub will include 80 serviced offices suite, with corporate amenities, suitable for businesses with up to 10 staff.
“The demand for modern, high-tech, small offices in Wellington is high, due to the large number of business people who may live in the likes of the Wairarapa or Kapiti, but who need a base in Wellington,” Michael Chow said.
“Our research shows that modern technology might have made it easier to do business from home, and on the road, but people still want and need a professional, modern office as a base.
“Such business people and their staff don’t want to be working out of some old dingy back room or some large, sterile shared environment.”
The brothers have contracted architects Designgroup Stapleton Elliott to design an “ultra-modern” space, with plenty of relaxed meeting zones, including a cafe and a deck overlooking Lambton Quay.
“What they have come up with is very exciting.
“There is nothing like it in Wellington and once we get up and running we will be looking at doing the same in Auckland.”
The hub would employ 15 staff to ensure the space catered for all demands of a modern office, Chow said.
“We want to attract those that like the idea of flexible term leases and no technology purchase requirements.
“Bring your laptop and we will supply the rest.”
Armstrong Downes have been contracted to do the fit-out and work is well under way.
The brothers hope to have the project complete by April.
– Stuff