About

A major central-city office building taken from acquisition due diligence through to full redevelopment as a consolidated head office for James Pascoe Group.

21 Pitt Street

Acquisition Due Diligence

Project Leads

Cristean Monreal James Arrowsmith

Client

James Pascoe Group

Services

Strategy Management

Location

Auckland

Sector

Office & Workplace

Status

In progress

When Beca moved out of its long-held headquarters at 21 Pitt Street, James Pascoe Group saw a chance to bring its retail head-office teams, then spread across several buildings, together in one central Auckland home. Before committing, the group needed to understand whether a large, recently vacated office building could be bought, upgraded and reconfigured for that purpose, and what the cost, programme and risks would be.

James Pascoe Group appointed RCP to lead the due diligence behind that decision. RCP coordinated the structural, building-services, condition and planning investigations, tested the building's development potential and usable area, and drew the findings together into a single board report covering cost, programme and acquisition risk, giving the group a clear basis to proceed with the purchase.

From acquisition to redevelopment

With the building secured, James Pascoe Group brought RCP back as project manager for the redevelopment. The building needs substantial work to bring it up to a modern standard, and RCP is managing the consultant team and the programme through design, consent and construction.

The works include seismic strengthening, base-build upgrades and replacement energy-efficient services, alongside a full office fit-out, lifting 21 Pitt Street to a modern A-grade workplace. Once complete it will bring James Pascoe Group's head-office teams together in one central-city building, a short walk from the new Karanga-a-Hape City Rail Link station.