Colliers International has just released their March commercial property Research Report for New Zealand.
In a busy month they have published two detailed Market Indicator reports, one on Wellington CBD Office and the other on Auckland Metropolitan Office. The themes of these two reports are similar: new supply coming to a grinding halt to match reduced tenant demand, generally static rents, and falling capital values. While landlords may struggle to see the good news in those trends, it provides businesses who are tenants with some clear reasons to be cheerful.
For example, an office vacancy rate of over 14% in Auckland’s Albany and North Harbour precincts means that tenants have a substantial choice of existing options, that rents aren’t going up in a hurry, and that their existing landlords will be working hard to keep them when the lease expires.new supply coming to a grinding halt to match reduced tenant demand, generally static rents, and falling capital values. While landlords may struggle to see the good news in those trends, it provides businesses who are tenants with some clear reasons to be cheerful. For example, an office vacancy rate of over 14% in Auckland’s Albany and North Harbour precincts means that tenants have a substantial choice of existing options, that rents aren’t going up in a hurry, and that their existing landlords will be working hard to keep them when the lease expires. Click here to read the full report in PDF format.
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Sales,
Office Leasing,
Retail,
Industrial,
Character Space,
Valuation and Advisory Services,
Corporate Solutions,
Research & Consultancy,
Auckland Office,
Wellington Office,
Christchurch Brokerage,
Dhilan Balia,
Alan McMahon,
Darren Park