Rich listers plan new Auckland tower
A new Mansons high-rise tower for the NZME site in central Auckland will contribute to rising office vacancy levels.
A new Mansons high-rise tower for the NZME site (ex-NZ Herald) in central Auckland will contribute to rising office vacancy levels.
Recent agency research suggests a rise in prime-grade office vacancies as several new high rises come on stream in central Auckland.
Until recent weeks, the vacancy level among top Auckland offices was less than 2% but has ticked up as more new space has become available. JLL research says the vacancy rate will rise to 4.9% as new Wynyard Quarter offices are built. The JLL research was carried out before the Mansons announcement.
The Mansons’ planned development at 1 Mills Lane will be about 190m high and include 30 levels for up to 4000 office workers, with shops on the ground floor, and a garden penthouse for viewing.
Mansons hopes to obtain resource consent by October.
Meanwhile, JLL’s research notes the high level of vacancies in older buildings, as high as 20%.
Chris Hutching for NBR NZ Property Investor
Thu, 21 May 2015
Thu, 21 May 2015
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Rich listers plan new Auckland tower
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