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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
Michelle Vollemaere14:18, May 05 2021
Supplied
The 7307sqm site of the former All Seasons Hotel at 60-72 Papanui Rd and 51 Onslow St, Merivale, has a current resource consent for a new hotel.
A large, high-profile development site just north of the Christchurch central city, formerly home to the All Seasons Hotel and with resource consent in place for a new hotel, is for sale via CBRE. The 7307 square metre residential-zoned site at 60-72 Papanui Rd and 51 Onslow St, Merivale, is being marketed by CBRE brokers Tim Rookes and Cameron Darby. It is for sale by deadline private treaty closing on Thursday, June 3, at 4pm.