Emirates Team NZ base relocation comes at a price

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Auckland Council release details of Emirates Team NZ base relocation

by Auckland Unlimited/Auckland Council 6 Jul 16:27 AEST 6 July 2022

INEOS Britannia and American Magic bases in Auckland © Richard Gladwell – Sail-World.com/nz

One of Auckland’s premier waterfront venues is set to reopen for business and events in early 2023, with confirmation today that Emirates Team New Zealand is to relocate its base within Wynyard Quarter.

A new deed of agreement signed between Eke Panuku Development Auckland – on behalf of the site’s owner Auckland Council – and Team New Zealand will see the team relocate west across the water to the former Team INEOS base at 56 Brigham Street, Wynyard Point.

The lease for the new site will run from 1 October 2022 through to 30 June 2028 and includes a transition period to allow time for Team New Zealand to reinstate the Viaduct Events Centre – which has been its base since 2018 – to its condition prior to the team’s tenancy.

Team New Zealand is responsible for all reinstatement costs, with works expected to be completed by mid-December this year.

Auckland Mayor Phil Goff says it was great to have the Viaduct Events Centre back and available to host local and international events from early next year.

“As more local and international business and other events return to Auckland, the city needs to have the Viaduct Events Centre back and open for business,” he says.

“Team New Zealand has agreed to restore the centre to what the council requires and will relocate to the building previously occupied by INEOS at Wynyard Point under a commercial lease. Keeping the base in Auckland will mean that the maritime industry will benefit from the development work undertaken by Team New Zealand here.

“With its premium location overlooking Waitemata Harbour in the heart of the downtown precinct, the Viaduct Events Centre will play a key role in attracting large scale events back to Auckland – providing a major boost to city centre businesses and supporting the region’s economic recovery.”

The technology and design work being undertaken by Team New Zealand continues to spotlight Auckland as a global centre for innovation and creativity, and the team will continue to have a very visible presence in Auckland, on and off water.

Team New Zealand Chief Operating Officer Kevin Shoebridge says: “In planning for the 36th America’s Cup, the Viaduct Events Centre building was offered to the team as a timely and pragmatic solution for both Auckland Council and Emirates Team New Zealand and a lease was signed at that time until the end of the 37th America’s Cup in 2024.

“In negotiations with Auckland Council it was agreed between the parties that we would work together to find a longer-term solution for the team. So we are happy we have taken a positive step towards that with a lease until 2028 on Wynyard Point.”

Eke Panuku Priority Location Director – Waterfront, Fiona Knox says: “The America’s Cup resource consent was granted in 2018 – the consent and the new legacy spaces created were designed to allow for public access, marine-related activity and events for 10 years. Team New Zealand has long been a tenant in the marine areas of Wynyard Quarter, and we are pleased to be able to accommodate them as the resource consent allows. They will be a welcome addition on Wynyard Point, where events and activities will continue as part of our focus on providing a public, liveable, connected and smart-working waterfront.”

All parties are working towards the Viaduct Events Centre reopening in the first quarter of 2023.

Auckland Unlimited (the major events and facilities arm of Auckland Council confirmed that Team New Zealand’s lease for 56 Brigham Street (former INEOS base) is for a five year and nine-month term from 1 October 2022 to 30 June 2028.

It is a commercial lease at commercial rates. The initial net rent is $550,000 plus GST per annum with CPI increases occurring annual from 1 June 2026.

It has also been agreed Team New Zealand will pay the same net rent – $550,000 plus GST per annum – for the Viaduct Events Centre for the period of 1 March 2022 – 30 September 2022.

The lease of this structure to Team New Zealand’s fits within the America’s Cup resource consent, granted in 2018, which has a duration of 10 years and allows for public access, marine-related activity and events.

About the Viaduct Events Centre

The 6,000m” (65,000 sq ft) space spans three levels, with eight separate rooms that make it ideal for a range of events, including tradeshows and smaller exhibitions, gala dinners, and conferences.

It hosts central Auckland’s largest banquet space with capacity for up to 1200 guests.

The building has been designed to a five-star environmental standard and makes the most of its impressive waterfront location with easy access to five-star accommodation, world-class hospitality and a central transport hub.

Since opening, the Viaduct Events Centre has hosted some major events, most notably New Zealand Fashion Week, New Zealand Design Awards, and numerous corporate functions, dinners and conferences due to its accessibility and high performance in delivering events.

The Viaduct Events Centre has been home to Team New Zealand since 2018.

Team New Zealand had a lease to occupy the Viaduct Events Centre until the final date of the completion of the 37th America’s Cup, with a rent review from 1 March 2022.

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