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Press Release – Bayleys The latest Auckland CBD office data from Bayleys Research demonstrates a significant rise in shadow space, an increase in vacancy rates across the office sector and tangible reassessments of occupancy requirements all of which contribute to vast opportunities …
The latest Auckland CBD office data from Bayleys Research demonstrates a significant rise in shadow space, an increase in vacancy rates across the office sector and tangible reassessments of occupancy requirements – all of which contribute to vast opportunities within the sector.
Lloyd Budd, Bayleys’ director Auckland Commercial & Industrial said the structural change being seen in the central Auckland office market has opened the doors to frank discussions between landlords and occupiers, and some bold decision-making from businesses.
auckland scoop co nz » Opportunity For Partnerships As CBD Office Fundamentals Change scoop.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scoop.co.nz Daily Mail and Mail on Sunday newspapers.
Monday, 22 February 2021, 10:01 am
The latest Auckland CBD office data from Bayleys Research
demonstrates a significant rise in shadow space, an increase
in vacancy rates across the office sector and tangible
reassessments of occupancy requirements – all of which
contribute to vast opportunities within the
sector.
Lloyd Budd, Bayleys’
director Auckland Commercial & Industrial said the
structural change being seen in the central Auckland office
market has opened the doors to frank discussions between
landlords and occupiers, and some bold decision-making from
businesses.
“The 2020 shake-ups to the workforce and
the ensuing workplace expectations has led to intelligent
strategies and conversations among landlords and occupiers
Press Release – Bayleys
A continuing contraction of investment property yields and a good level of demand for well located tenanted and vacant premises were features of Bayleys’ final
Total Property auction for the year.
Bayleys’ Auckland commercial and industrial director Lloyd Budd says the sale of a variety of tenanted offerings at net rental income returns of below or around five per cent confirm that yields are continuing to track interest rates down.
“Bank deposit rates have dropped significantly in recent months to below one per cent which opened up a bigger yield gap with commercial property returns than has existed for some time. However, our latest auction results show that property yields are now also adjusting downwards again and this may well continue into the New Year,” Budd says.