MONIQUE FORD/Stuff
Kunnen says the dearth of industrial land is being compounded by a lack of quality space, with many existing buildings more suited to the manufacturing needs of the mid-20th century. The dearth of industrial land was compounded by a lack of quality space, with many existing buildings more suited to the manufacturing needs of the mid-20th century, he said. Colliers associate director Tim Julian said the region was experiencing the lowest vacancy rate for industrial land since records began. It was currently 1.5 per cent, a healthy rate was about 4 per cent, he said. He was aware of just six hectares of industrial-zoned greenfield land left across the Hutt Valley, Wellington, Kāpiti and Porirua.