 
 The following article from the Dominion Post illustrates
one of The Wellington Company's guiding principles — regeneration.
EXODUS FORCES RETHINK
As a property owner what do you do when a major tenant has a "mass evacuation" from your building,
leaving a large amount of vacant space with no new tenants in site?
The answer is that you remarket your building and divide it into smaller spaces ideal for emerging business.
You also rename it the iCentre to reflect the type of tenants you want to attract. At least that was the solution decided on by The Wellington Company after the BNZ moved out of eight floors of the in the BNZ Trust House in Manners St last year. Company spokesman John Feast said his research showed that while there were only a few organisations prepared to take on full floors on long term leases, there were scores of new dynamic companies looking for smaller, well located spaces in the central city. But the layout of existing buildings seldom catered for their needs So the Wellington Company decided to transform the Manners St building. New sprinklers and toilets were installed, and the foyer and lifts revamped - all in the space of two months. Spain's new embassy in New Zealand has taken over the entire 11th floor. In the past two months nine other companies have signed leases for smaller spaces on other floors. Among them is an Indian IT company partly owned by a Bollywood actor, a local wind energy company and an investment company. Mr Feast said tenants on each floor share a bathroom, hi-tech presentation facility, toilets and a kitchen. Lease terms were flexible reflecting the fact that companies often needed more space as they expanded. Tenants can break their leases, provided that when they give their notice they deal with us first for new premises. Mr Feast was delighted with this new tenants. "they are dymanic young businesses that will be of benefit to Wellington. He said that while the BNZ had vacated its office space, it had renewed the lease on its ground floor retail Premises.
Colin Patterson - Dompost Post, Saturday March 24 2007
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