One Market Lane was formerly home to the Wakefield Markets building that was built in 1910. The building had a long association with the automotive industry and was used as a car showroom by Manthel Motors from 1933 until 1945.
In 1986, the Wakefield Markets moved in, establishing more than 120 stalls within the building. The market left 20 years later and the building was demolished in 2008.
Market Lane is where the city grid meets the historic waterfront line, and the new building will sit alongside a cluster of heritage buildings that form a neighbourhood between Jervois Quay and the waterfront, known as the Taranaki Wharf Precinct.
Included in the fully refurbished and restored precinct is: the NZX Centre and Odlins apartments,
formerly the Odlins Building; Shed 22; the Free Ambulance Building; as well as the Star Boating Club.
The new building abuts the historic and distinctive triangular John Chambers Building, now Xero House.
One Market Lane is uniquely sympathetic to its context and neighbouring heritage buildings.