'Seismic' fail: giant Asteron Centre to be retrofitted

City developer and investor Mark Dunajtschik said his main focus is to bring the building up to code. (Image: Property Council)

Brent Melville and Oliver Lewis

Tue, 11 Jan 2022

Asteron Centre, Wellington’s biggest office block, is facing significant earthquake remediation that will leave about 2,600 government and city workers without a workplace for another eight months at least.The owner of the 17-storey office development, city developer and investor Mark Dunajtschik, confirmed that work would start on the 45,000 square metre building in March – with expected completion by this August.The building, completed in 2010, has a council valuation of $179 million. Its major tenants include Inland Revenue...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Energy

Meridian to pay $70M for Z Energy's Flick

Z Energy paid $46m for its 70.01% stake in the electricity retailer seven years ago.

Ian Llewellyn 10:00am

Markets

Vista to take 25 Picturehouse Cinema sites to the cloud in 2025

The listed cinema software firm has its AGM on May 21.

Rebecca Stevenson 9:00am

Vista to take 25 Picturehouse Cinema sites to the cloud in 2025

Politics

What the US-China Trade Agreement Means for Markets

By James MackintoshThere’s more to Monday’s soaring stocks than the pause in crushing China tariffs.The temporary lifting of triple-digit trade levies between China and the U.S. while trade talks get under way removes the threat of an immediate stagflationary hit to the economy....

The Wall Street Journal 8:30am

What the US-China Trade Agreement Means for Markets

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Property

Property

Summerset launches $100m bond offer

Summerset Group has launched a six-year bond offer to fund the repayment of previously issued debt. The retirement village and aged care company told the market on Monday that it is raising up to $100 million, with the potential to accept an additional $50m in oversubscriptions. ...

Staff reporters 12 May 2025