Own Your Future
We are living in a time when major economic indicators signal an expansionary outlook for the New Zealand economy and the industrial sector, leading to one of the fastest rates of land take-up experienced post-GFC, according to Colliers International.
As big industrial landowners such as Auckland Airport and Goodman push ahead with their leasehold offerings, global real estate firm CBRE’s latest research confirms that restricted availability of industrial land continues to drive demand, particularly in the more highly sought after industrial locations in South Auckland.
Demand from both tenants and owner-occupiers has been consistently strong over the past year as businesses continue to expand off the back of a strong economy. The Auckland industrial market has gone from strength to strength over the past 12 months.
Over the next 12 months expect to see a continuation of similar conditions in the industrial market. A shortage of prime stock will continue to cause upward pressure on rents, some of which will flow into the take-up of secondary space and continue to fuel the demand for newly built stock.