“The current office space in Hamilton is no longer optimal for this hybrid way of working, both from an employee and teams experience, and financially,” Calder said.

The London St building was owned by Fonterra until 2017. Thereafter, facing financial pressures, the group decided to sell the premises and then sign a lease for the building to continue hosting about 400 staff.

Although the company took out a nine-year lease on the premises post sale, there is the option of a lease termination as early as 2024, according to commercial realtors Colliers.

Colliers have also revealed that as of 2017, the site was netting its lessor $1,799,064 worth of rent annually. This figure is now likely more, however. With the lease agreement allowing for fixed annual rental increases of 2.5%.

Businesses nearby who cater to Fonterra employees are disappointed to hear that an anchor tenant, one that provides up to 30% of the clientele at some establishments, is set to leave.

Anna Zheng, the owner of the Corner Dairy directly opposite the 7,227sq m office block, says that 60% of her customers are office workers from across the road.

The guaranteed lunch break of office workers has meant that Zheng’s business has managed to turn a profit while opening five days a week. This might change when the dairy giant departs.

“If they do leave we can’t sell. No one will want to buy it because the turnover isn’t good enough.”

A few doors down, Lydia Park the co-owner of Wa Sushi says that she has first-hand experience as to the effect of Fonterra’s staff not lunching in the city.

“When they work at home, of course we are quieter. So, you know we really have no idea after they move what’ll happen… Fonterra is a big company, and they sent their staff to work at home and it made us quiet,” she said.

She says that she hope another large tenant will take over the space once Fonterra leaves.