It's incredible to see South Korean developer Dae Ju starting to build a 37,000 sqm, 26-level office block on the old Auckland Star site on 20-28 Shortland St (Fort St).
There is already a lot of vacant offices coming on to the market. Even the new AMP Trust Office building and Deloitte Centre are suffering.
I think office rents will drop significantly over the next few years.
Details: http://www.nzherald.co.nz/property/n...ectid=10565759
Zoltan Moricz, research and consulting director at CB Richard Ellis, said there was enough vacant office space for 7000 workers in the CBD. Auckland has about 100,000sq m of internal commercial floorspace vacant.
I think office rents will drop significantly over the next few years.
Details: http://www.nzherald.co.nz/property/n...ectid=10565759
Comment