For years, leasing office space followed a familiar pattern: sign a long-term contract, design and construct your fitout, and move in months later.

As businesses demand more agility, New Zealand’s largest listed office developer, Precinct Properties, is responding by adding fast, flexible workspaces for small, medium and large sized teams.

“We don’t see ourselves as a landlord,” says Anthony Randell, the General Manager for Property at Precinct.

“We’re a workspace partner. Our role is to help occupiers – our clients – into spaces where their people can thrive; whether they’re a two-person start-up or a thousand-person organisation.”

Image CapAnthony Randell, Head of Property - Precinct tion

From landlord to partner

Precinct’s portfolio includes some of the country’s most recognisable addresses, from Commercial Bay and Wynyard Quarter in Auckland and the new 20,000sq m development on Molesworth Street in Wellington. But behind the glass facades, its model has evolved.

A decade ago, Precinct offered mostly long-term traditional leases. Today, it delivers a spectrum of workspace solutions designed to meet businesses where they are, from fully serviced coworking through Precinct Flex, to move-in ready Suites and custom turnkey offices, right through to complete building design and construction.

“Every business is different,” Randell says. “Their needs change, their size changes. We’ve built an ecosystem that lets them grow within Precinct, without the complexity of managing multiple providers or fitouts.”

That adaptability, the company says, is a strategic response to how work has changed. Organisations are making quicker decisions, teams are distributed across regions, and leaders are increasingly focused on how the office supports collaboration, culture, and wellbeing.



Flexibility is the new premium

Randell says flexibility is now the No 1 priority for business leaders, outpacing even cost.

“Businesses are changing faster than ever, for good or for bad, and we want to help on both sides of that equation,” he says. “If a client grows or needs to downsize, we’ll work with them.”

At the same time, location and quality remain crucial. “To attract and retain people, leaders want to be in amenity-rich precincts and high-quality buildings,” Randell explains. “That means being close to public transport, good food, wellness facilities and event spaces. These environments are why people enjoy coming to work.”

In Commercial Bay alone, more than 10,000 people now work across Precinct’s network of buildings. Events like speaker series, yoga classes, and social gatherings have made the precinct more like a community than a cluster of offices.

Precinct Suite at Deloitte Centre, 1 Queen Street 

“We host 20 to 30 events a month,” Randell says. “It’s about activating the real estate, not just leasing it. When people feel part of something bigger than their own company, that’s when the workplace really adds value.”

Every new space is delivered to high sustainability standards, reflecting what Precinct calls a long-term focus on responsible development.

A seamless experience

Precinct’s turnkey model is designed to make moving simple. Businesses can walk into a fully designed, high-quality workspace without the time, capital or stress of a traditional fitout.

“Ultimately, it’s about saying, ‘You do what you do best, and we’ll take care of the rest,’” Randell says. “We partner with clients to make relocation as seamless as possible.”

That partnership extends across size and sector. Precinct’s occupiers range from start-ups and professional firms to major corporate and government agencies. 

One example is infrastructure consultancy Alta, which began in Precinct Flex in 2018 with a handful of desks. As the business grew, it transitioned into its own office in the HSBC Building and now occupies a 248sqm Precinct Suite in the Aon Centre

“Moving into the suite was an easy option for us – we didn’t need to worry about fit-out, and the space came beautifully designed with a fully equipped boardroom and a premium arrival experience to welcome clients,” says Tim Lancaster, Partner at Alta. The company has since expanded into Precinct Flex’s Bowen Campus in Wellington, giving its team flexible, high-quality workspaces in both cities.

Randell says stories like Alta’s highlight the long-term value of flexibility. “They started in coworking, moved into their own suite, and now operate nationally; all within the Precinct network. That’s exactly what we want: spaces that evolve with our clients.”Premium Client Arrival experience in HSBC Tower, Auckland 

Rethinking what “premium” means

Randell believes “premium” is no longer just about the marble lobby or the skyline view.

“It’s all about premium grade buildings in premium locations and how well those spaces are activated,” he says. “You can’t just build it and leave it. It’s about creating a precinct that people want to be part of.”

Precinct now offers premium, move-in-ready offices across its portfolio, with spaces in Wynyard Quarter, Commercial Bay, and Te Tōngaroa. As this style of workspace gains traction, the company is extending these options to Wellington, with new spaces available later this year. 

“Our goal is to keep evolving,” Randell says. “To refine the experience, enhance flexibility, and strengthen our partnerships. Because for us, the relationship doesn’t end when someone signs the lease; that’s where it starts.”

To explore move-in-ready workspaces across Auckland and Wellington, visit precinct.co.nz.