Business Insights | Why Businesses Are Choosing The Exchange

Why Businesses Are Choosing The Exchange Wellington’s Connected Creative Precinct

Located between Allen and Blair Streets, The Exchange is a 10,000sqm landmark building that is home to a mix of creative organisations, retailers, hospitality, and wellbeing businesses. It’s fast becoming a destination to work, visit, eat, shop, and experience.

As it welcomes new businesses and expands its programme of public events, CBRE Wellington’s retail specialist Zoe Smith and office leasing specialist Paul Soulis sat down with Hannah Salmond, Property Manager at The Exchange, to talk about the building’s evolution, the growing energy around Blair and Allen Streets, and what it means for Wellington’s creative district.

Zoe: The Exchange has always stood apart from a typical commercial property. What makes it different?

Hannah: The Exchange was never going to be a conventional office or retail building. From the outset, the ambition has been to create somewhere with genuine personality, a mix of creative organisations, galleries, designers, architects, hospitality, and wellbeing businesses under one roof. That diversity creates a sense of discovery you don’t often find in a single building. We want people coming here not just to work, but to experience something new - a gallery, a café, an event, a business they didn’t expect to find.

Zoe: You’ve recently welcomed one of New Zealand’s best-known auction houses Dunbar Sloane and artisan chocolatier Baron Hasselhoff’s. What do they bring to the mix?

Hannah: Both reflect exactly the character we’re building. Dunbar Sloane brings a regular offering of exhibitions, viewings, and auctions. Baron Hasselhoff’s brings an iconic Wellington brand with a devoted following. Together, they give people more reasons to come through
the doors.

Zoe: A lot of attention is turning to the central atrium. What’s the vision there?

Hannah: The atrium is one of the building’s defining features. It’s hosted everything from dinners and functions to vintage design markets, and we’re now expanding that into regular indoor markets and public events. This isn’t just for the businesses that operate here.
It is a space that contributes to the city itself, and gives Wellingtonians a genuine reason to come and see what’s happening around them.

Zoe: How does The Exchange’s evolution connect to what’s happening across the wider
Te Aro - Courtenay precinct?

Hannah: The Exchange isn’t evolving in isolation. Revitalisation group, Te Aro Hā - Courtenay and its partners are driving real momentum across the precinct: new businesses, streetscape improvements, activation projects, all building confidence and vibrancy in this part of the city. Blair and Allen Streets sit right at the centre of that vision: a design and arts-focused retail quarter, backed by hospitality, commercial and residential activity. You can already see it taking shape in the businesses choosing to locate here and the energy building on the streets.

Zoe: The Exchange has a history dating back more than a century. How do you balance that heritage with modern expectations?

Hannah: That history is the core of the building’s identity. The owners have worked hard to preserve the character of the site, whilst also investing in seismic strengthening, frontage upgrades, and modern building services, to ensure it meets the demands of the people using it today.

Paul: For businesses considering The Exchange, what’s available, and does it suit those not ready for a traditional lease?

Hannah: We’re still seeing strong interest from organisations wanting something different from a conventional office or retail environment. For businesses not ready to commit to a full lease, Co-work at The Exchange and Co-work on Blair offer flexible workspace with meeting rooms, high-speed fibre, 24/7 access, printing facilities, lockers, and breakout spaces. It’s a great entry point into The Exchange, with room to grow as a business does.

Paul: What would you say to businesses considering The Exchange as their next home?

Hannah: Come and experience it for yourself. The Exchange offers far more than space. It’s a place to connect, collaborate and be part of something bigger unfolding across Te Aro - Courtenay. New businesses, investment, events and physical improvements are all adding up to a renewed sense of confidence in this part of Wellington, and there’s a genuine opportunity here to be part of that.

Zoe: Looking ahead, what do you want Wellingtonian’s to see when they think of The Exchange?

Hannah: A destination. Somewhere creativity, hospitality, retail, events, and community come together. What started as the Produce Exchange more than a hundred years ago is still doing exactly what its name suggests, bringing people and ideas together in the heart of the city.