Flight to quality has been a strong theme among office occupiers in recent years, as businesses aim to provide workplace environments that help not only attract and retain talent but improve employee communities and company culture.
The latest Hamilton CBD Office occupancy survey results conducted between CBRE Research and NAI Harcourts, saw the vacancy rate fall from 8.1% mid-2021 to 7.0% at the start of 2022 – with A Grade at 3.1%, confirming continued strong demand and limited supply.
Designed by Chow Hill and constructed by Foster Construction, Hamilton’s Union Square includes over 23,000m² of premium office space within 5 buildings. Union Square key focus is “Experience Better” meaning that every investment or amenity available enhances your experience and wellbeing if you work there.
Strategically located towards the south-end of the cities CBD, Union Square is an experiential workplace, it incorporates common spaces, shared amenities and flexible leasing solutions that support evolving tenant demands.
Fosters Development Director, Rhys Harvey is keen to point out that AFI developments want to see Union Square thriving for generations, so nothing will be spared when it comes to providing an exceptional customer experience for the end users. “Think vibrant precinct, prime grade offices and high levels of occupant experience” says Harvey.
Also, those who engage early will be able to have input into the finishings and internal layouts to suit their needs. It is during the development and construction process that Fosters builds the clients confidence through proactive ‘Best for Project’ approach.
Union Square is already home to Rabobank’s Head Office and AA Insurance, including its business continuity division, as well as Sentinel Outpost Café.
BBO and Baker Tilly Staples Rodway and Craigs Investment Partners together with several other tenants, have committed to long term leases at Union Square.
The second building in the precinct, being a 327-bay multi-level car park building, plus end of trip facilities, EV charging and concierge services, is due for completion in February 2023. Following this, will be the next commercial building in September 2023. Harvey says, “this 6-level premium grade building has exceptional outlooks onto the Union Square boulevards and central city. This building also includes a series of shared meeting and board rooms, along with co-working options for all Union Square tenants. There is currently limited office space left in this building”.
“Although land prices and construction costs continue to rise, the rates for Union Square have remained the most cost effective of any significant new office building in Hamilton” says Mike Neale, Managing Director, NAI Harcourts. “Opportunities like this don’t last, so we urge interested parties to act now to secure this benefit.”
