Demand continues to strengthen throughout the Dunedin office market. The completed refurbishment of a prime CBD office building has resulted in an uplift of rentals with the market now at a rate upwards of $280/m² net in prime CBD buildings. There is construction planned for a substantial office development, which will be the first in many years. View the infographic here.
High levels of demand and limited availability have resulted in an uplift in rentals across all industrial property and is especially prevalent amongst older stock. In some situations, we have seen rental growth upwards of 30% in the past three years. Agents are currently reporting a backlog of tenants with little available stock to fulfill demand. View the infographic here.
Prime retail rents remain static with occupancy levels remaining relatively consistent with levels of 12 months ago. There is demand for bulk retail with growth in rents, but not to the degree we are experiencing in other property classes. View the infographic here.