Workplace, property strategy and lease commitment for AIA New Zealand
JLL advised AIA New Zealand on their workplace strategy and undertook a full on-market process to identify and negotiate a new lease and workspace for their headquarters in New Zealand.
Smales Farm, Takapuna, Auckland
AIA New Zealand were faced with several challenges, with elements of their existing office building beyond their useful life. In addition, they no longer had a fit-for-purpose facility to keep pace with their technology needs and evolving ways of working, also reflected in the fitout needing a refit to provide engaging space for the business, their employees, customers and advisers.
JLL was initially requested to review AIA New Zealand’s workplace and property strategy in line with their organisational needs with a focus on attracting and retaining talent; ultimately culminating in a range of recommendations their future workspace should incorporate.
The workplace strategy document formed the backbone of the leasing requirement. AIA New Zealand then requested JLL to undertake a full market process to identify future opportunities, incorporating both existing and new-build developments. Given the covenant strength of the organisation, a significant range of options were presented. JLL undertook a detailed analysis of a select shortlist to better inform AIA New Zealand’s Project Group and Executive Committee. After detailed modelling and negotiations, AIA New Zealand opted to remain on Smales Farm. Following an extensive refurbishment of their existing building, AIA will return to a fit-for-purpose and first-class office facility for their staff, pushing the boundaries of technology, workplace flexibility and providing a range of green and sustainability outcomes.
As a result of the extensive work undertaken by all parties, AIA New Zealand will receive first-class office premises, centered on the needs of the organisation that is flexible and resilient to future requirements, having been adapted to a post-pandemic way of working.