STUFF

The Reserve Bank building, opposite Parliament, has been undergoing renoavtions.

The Reserve Bank building which houses government and corporate tenants is being evacuated after asbestos was discovered.

The bank's governor Adrian Orr said a small trace of asbestos was found on level one of the building and they were temporarily closing the Wellington building, at number two The Terrace, as a precaution.

Orr said an air test had been carried out and remedial action taken. He said the test had since come back "clear" but the building would be evacuated until "risk to human health" was ruled out.

STUFF

The Reserve Bank on The Terrace in Wellington has been evacuated due to asbestos.

"Because of the age of the building, asbestos must be presumed to be present."

READ MORE:
* Investigating potential information leak
* Reserve Bank chief economist
* Spending will boost NZ economy
* Reserve Bank building offers lease

"As a responsible employer and landlord, the bank has decided to take the extra precaution today of closing the building until it is confirmed that there continues to be no risk to human health, and any necessary remedial action has been taken."

He said building's air would be monitored to ensure levels stayed below an allowable trace level of 0.01 fibres per millilitre of air.

The bank's "essential operations" will continue out of the Auckland office.

Wellington City Council said as the asbestos find was not a structural issue the matter did not fall under its jurisdiction. 

Tenants in the building were made aware of the situation and made their own arrangements, Orr said.

The Reserve Bank Building is a 14-level building on the corner of The Terrace and Bowen St. It sits across the road from Parliament in central Wellington.

In January last year Colliers International marketer Phil Humphrey said the building met 100 per cent of the new building standard.

 - Stuff