The Napier commercial office market remains steady with good demand for A grade space. Secondary space is still in oversupply, with many apartment redevelopments underway. There is very high demand for good quality premises with strong leases in place. View the infographic here.
There is strong demand for sound quality industrial assets that are subject to lease, with investors seeking returns greater than traditional investment vehicles. This, coupled with a dwindling land supply, has resulted in firming yields and an upward pressure on rents. View the infographic here.
Vacancy levels remain low within the prime retail strips in Napier CBD and good demand exists from both tenants and investors. Large format retail space leased to national tenants is attracting strong demand from out of town investors. View the infographic here.