And one makes three: Xero adds to Wellington empire

And one makes three: Xero adds to Wellington empire

As its value rockets, cloud accounting star Xero has found time to install staff in a new Wellington office, its third in the city. The company has more than 250 personnel in the capital and over 600 internationally.

The most recent addition is in the Manthel building, within view of its HQ at Xero House on Market Lane. Its other Wellington office is in leased space on Wakefield St.

Xero has naming rights to the building, which it's branded Xero Two. CEO Rod Drury says the company is using its growth to revitalise character spaces in the capital.

"Xero is proud to be creating hundreds of hi-tech jobs," says chief executive Rod Drury. "Wellington is a fantastic place to build a global business with the talent, creativity, passion and diversity the city attracts."

Xero's HQ in Market Lane was commissioned last March and is reaching capacity. Wellington houses most of Xero's staff and it says numbers there could reach 350 by the end of the 2014 financial year.

Xero has offices in Auckland, Melbourne, Sydney, Canberra, Milton Keynes, London, San Francisco and Denver and a number of smaller facilities in other cities.

It says its culture and use of online technology means it's not constrained by having multiple offices globally.

"Teams are highly connected through regular team and cross-team meetings," says Drury. "Collaborative cloud services such as Google Docs, Yammer, Skype and Office 365 allow us to work together remotely."

Staff will start moving in to the new office from the end of December, with Xero taking the ground floor of the building for an initial term of just over two years. It will also relocate part of its existing workforce into the building.

At the time of writing, its share price was $34.50, down from a 30-day high of nearly $40 and a worth of more than $5 billion.