New office ‘other people’s money'

I attended a recent roadshow on the proposed new Tauranga City Council Head Office, where the audience was informed the new building was benchmarked against TrustPower's new Head Office and the new IRD building under construction among others.

Interesting comparisons. The TrustPower building has 6900m2 office space, basement garage and land sold for $40 million.

The IRD building has 7800m2 office space, two floors, basement garage and land is being advertised as a ‘$40 million development'. The TCC Head Office will supposedly be 8100m2 office space, no garaging, no land costs, but a ‘turnkey' deal requiring $64 million. It would appear to be a magnificent Other People's Money fitout.

K Gifford, Tauranga City.

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