Plans for a new 39-storey office tower in central Auckland have been unveiled by the developer, as part of a $681 million redevelopment of the Downtown Shopping Centre.
The developer, Precinct Properties, hopes to start construction in June next year.
The office tower - which will be built over the existing Downtown Shopping Centre - will be called the PWC Tower. It will be the tallest office tower in the CBD, and will be part of the most expensive retail development ever seen in the city.
More than half of the tower has already been leased out to customers.
The area will be renamed Commercial Bay, as it was first called when established as Auckland's trading hub in the 19th century, and include more than 100 shops, restaurants and bars.
Precinct Properties chief executive Scott Pritchard said the new development would "completely reshape" the waterfront area nearBritomart and the Viaduct.
"The retail at Commercial Bay will be a laneway environment with around 100 shops including international and domestic fashion outlets plus a number of restaurants, cafes and bars."
Mr Pritchard said 52 per cent of the PWC Tower had already been pre-leased, while negotiations with major retailers for a range of flagship stores were underway.
Commercial Bay is expected to open by October 2018, with construction completed on the office tower in mid-2019.
Fletcher Construction has been appointed to carry out the work, which will include tunnels under the Commercial Bay area for the proposed City Rail Link.
Commercial Bay will integrate the adjoining office space already owned by Precinct Properties, including the PwC Tower, AMP Centre, HSBC House and Zurich House.
There will also be a public space created on Lower Queen Street, linking the areas to the retail space.