Press Release – CBRE
A positive story is emerging in the Christchurch CBD office leasing market, with CBRE’s latest office vacancy survey revealing the amount of vacant space is now at or below pre-earthquake levels.
Overall CBD office vacancy, which includes both prime and secondary grade buildings, is now at 10.7% (as at December 2020), according to CBRE Research’s latest
Marketview quarterly report.
This is on par with the 10.1% pre-earthquake CBD office vacancy level in 2010, and significantly less than the 16.3% vacancy recorded in 2018. Prime grade CBD office vacancy is now at 8.3%.
Suburban office vacancy is currently at 13.4%, down from the pre-earthquake long-term average of around 16%, as well as the 15.3% vacancy recorded in 2018. However, suburban vacancy is still up on post-earthquake levels (10.5% in 2014) which reflected increased occupation by displaced CBD tenants.
Thursday, 6 May 2021, 9:34 am
A positive story is emerging in the Christchurch CBD
office leasing market, with CBRE’s latest office vacancy
survey revealing the amount of vacant space is now at or
below pre-earthquake levels.
Overall CBD office
vacancy, which includes both prime and secondary grade
buildings, is now at 10.7% (as at December 2020), according
to CBRE Research’s latest
Marketview quarterly
report.
This is on par with the 10.1% pre-earthquake
CBD office vacancy level in 2010, and significantly less
than the 16.3% vacancy recorded in 2018. Prime grade CBD
office vacancy is now at 8.3%.
Suburban office vacancy
is currently at 13.4%, down from the pre-earthquake