Quattro Albert to take over ‘upcycling’ of Auckland’s Bledisloe House
Monday, 6 July 2026
Australian-backed Quattro Alberts Group will be taking over the long-delayed “transformation” of the heritage-listed Bledisloe House in Auckland’s CBD.
Quattro Alberts has entered into a joint venture with global real estate developer Malaysian Resources Corporation Berhad (MRCB) to refurbish the 1950s office block, it announced on Monday.
Bledisloe House sits beside Te Waihorotiu Station, the flagship stop on the new City Rail Link, and is considered one of the country's most significant examples of civic modernist architecture.
MRCB, which is listed on the Malaysian Stock Exchange and has about NZ$4.06 billion in assets, struck a deal to buy a 125-year leasehold interest on the building and the site from Auckland Council in 2022.
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It also has leasehold ownership of an adjacent site on the corner of Wellesley Street and Mayoral Drive, where it plans to build a $650m, 21-storey mixed residential and retail block called the Symphony Centre.
Plans to upgrade Bledisloe House have been on the go since 2023, and local development management firm, RCP, was originally in charge of the project.
But RCP is no longer involved with the project and instead Quattro Alberts will be upcycling the building into its newest premium CBD workplace destination, the company’s New Zealand managing director Mark Gedye told The Post.
Quattro Alberts is an Auckland off-shoot of the privately held Sydney-based Quattro Group. An office property investor and operator, it buys B-grade buildings in good locations and extensively upgrades them.
It then leases out flexible office arrangements - ranging from turnkey suites to bespoke workplaces for larger enterprises - complemented by shared amenities, lifestyle facilities, curated events and its membership club network.
Its portfolio, all in the CBD, includes One Albert Street, The Formery at 87 Albert Street, and a four-building Victoria Street West development that will be known as The Exchange on Albert once it is completed.
Gedye said the joint venture on Bledisloe House represented an important milestone in the company’s long-term investment in the city centre.
The investment reflected Quattro Albert’s strong belief in the next phase of Auckland’s city centre evolution and its long-term future, he said.
“With the CRL nearing completion, the midtown precinct is emerging as a compelling hub for organisations seeking a central city location, supported by significantly improved accessibility and connectivity for their people.”
A joint venture was a departure from Quattro Albert’s model to date, but partnering with MRCB would enable them to bring additional global development capability and expertise to the delivery of Bledisloe House, he said.
“Our focus is on creating a high-quality workplace destination that supports business confidence and contributes to the continued revitalisation of midtown.
“MRCB executives see the type of workplace we create as the future, and an attractive office model for small and medium-sized businesses (SMEs).”
There was a “phenomenal depth” to the SME market that was largely not catered for in traditional office buildings, and there was strong demand for their product, he said.
‘We are already negotiating a deal with a tenant for Bledisloe House which will see them take 15% to 20% of the building.”
Work on Bledisloe House will get under way immediately, with the company in the final stages of appointing a contractor for the main portion of work, and the building scheduled to open in early 2027.
When completed, it will feature curated office environments, a wellness centre for members, meeting and venue spaces, and a new midtown food destination made up of premium eat-street style dining options open to the public.
Gedye said the spaces would support the continued regeneration of the precinct by introducing new public amenity to enhance the everyday experience of people visiting and working in the CBD.
Auckland Mayor Wayne Brown said the transformation of Bledisloe House was a major vote of confidence in the future of midtown.
He was impressed to see the private sector leveraging the massive investment the council had made in the CRL and surrounding area.
“This partnership will turn a historic site into a world-class destination, bringing new energy and high-quality jobs back to the centre of our city creating a vibrant, accessible hub where people want to work, dine, and spend their time.”
In the broader midtown space, Quattro Albert’s work on the nearby Exchange continues at pace, while MRCB’s latest financial reports list the Symphony Centre in the ongoing property projects in its development pipeline.
In a recent statement, it said its team was working with its project partners to optimise the design to further align with current local market and construction conditions.