Library good office location

Syd Brown
Syd Brown
Members of the real estate industry say finding a new use for the Dunedin Public Library building in Moray Pl should not be hard, and its central location should make it attractive for offices or other development.

The Dunedin City Council announced on Monday it had signed a joint venture agreement with South Canterbury Finance, the owner of the former chief post office building, and would investigate moving the library to the Exchange.

If the move went ahead, the newly empty Moray Pl building would stand next to the newly redeveloped Dunedin Centre.

Deputy mayor Syd Brown said yesterday the council would look at "all options" for the building, from refitting for tenants to selling it.

"The council has in the past looked at hotel opportunities. It's endless."

Cr Brown said the council was not on an empire-building exercise, and would not want to use the library building unless there was a compelling reason to do so.

Macpherson Valuation director Tim Dick said the market for office space had tightened in the past few years, although extra floors were being built on Otago House, and at the Polson Higgs building.

Mr Dick said the problem some businesses found in Dunedin was finding office space large enough, and the library building could help solve that.

"The Octagon is the premier office precinct."

Real Estate Institute of New Zealand national president Mike Elford agreed the location was a selling point.

The building had good parking and access.

"It's a very, very good building, rock solid, and it would make good office accommodation."

Mr Elford was also enthusiastic about the library move.

He sold the historic 125-year-old former BNZ building and two adjoining premises in Princes St last month, and expected the shift to have a positive effect on real estate in that area.

If both the library and the Otago Regional Council moved to the former chief post office, cafes and other amenities would follow, and "clearly everyone will do well, I'm sure".

"Anything that happens down there is good for Dunedin."

- david.loughrey@odt.co.nz

 

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