Current vacancy across prime space in the CBD is 2%, with total vacancy rates of other space averaging at 5%.
There are multiple developments in the pipeline, but none of significance that will be completed before the end of 2016.
The biggest development in the future is a 25+ storey office tower to go above the current Westfield site, due for completion in 2020.
Some of the biggest tenants that currently reside in Auckland are KPMG, Microsoft, Google, Apple, Accenture, Spark, Vodafone, Fonterra and ASB.
Costs
Pricing is generally differentiated by the Grade of building first, then the location of the building second.
For Prime/A Grade, serviced office prices are currently at about $900 per person, per month. For B Grade, approx. $600 per person, per month. C Grade, approx. $375 per person, per month.
However, when looking at serviced offices keep in mind that these costs usually cover a variety of amenities and as such can offer great value for money and lower outgoings.
Office sizes
Average size of office varies depending on the type of business and industry they are in.
Currently, the market is so saturated with demand that the availability of space is very low, so people are turning to serviced offices as a cost-effective and flexible solution for their immediate to long-term needs.
Coworking experienced a boom in popularity in 2014 that has slowed over the beginning of 2015, but is sure to continue to increase in trend.
Instant Offices are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
Why choose Auckland?
Auckland is NZ’s largest city, a thriving economic hub that is also one of the world’s most business-friendly markets.
The city has a stable business environment, a growing economy, a diverse and skilled talent pool, a worldwide reputation for innovation and an enviable lifestyle.
Auckland is also your gateway to markets in the Asia-Pacific region, offering a wealth of investment and business opportunities.
As the largest city in a small country, Auckland is able to provide new businesses and investors opportunities that are truly world class.
Five things you probably didn't know about Auckland:
- Auckland was the capital of New Zealand from 1842-1865
- The nickname of the city ‘City of Sails’ due to approximately one in three residents owning a boat
- Standing at 328m the Sky Tower is the tallest structure in the southern hemisphere
- There are around 50 volcanoes in the Auckland area
- The city was initially known as ‘Tamaki Makau Rau,’ meaning a maiden with 100 lovers