UPDATED 1.44pm: Police have found nothing after searching a building at Victoria University, after a threatening note was found there.

The Murphy Building has been evacuated and Kelburn Parade cordoned off, after a note threatening the detonation of a bomb was discovered around nine this morning ... outside an elevator.

Vice Chancellor Grant Guilford said the note was handed on to him, and he passed it on to police.

He said they decided that given the recent threat made in Otago they should take this one seriously - even though the note doesn't look particularly credible.

"Given that copy-catting had happened once there was more risk for us in the situation for us that it was a credible threat rather than a prankster or someone a bit deranged."

"Police take these threats very seriously and for safety have evacuated the [building] while a thorough search of the area is undertaken," a police statement said.

The public was asked to avoid Kelburn Parade for the next few hours while police conducted their search.

The Wellington District crime squad was leading the criminal investigation.

The threat comes after an online post threatening a shooting at Otago University's campus in Dunedin today.

Police are asking the public to avoid Kelburn Road while we conduct a search of Victoria University following a bomb threat.

— Wellington Police (@WgtnPolice) October 6, 2015