Investor interest within the Auckland, New Zealand, retail property sector is being shaped by the performance of the various subsectors, reported Colliers International. Interest in large-format retail and supermarkets has been heightened by their defensive investment asset characteristics.
Vacancy rates have begun to increase in response with Auckland’s overall rate rising to 3.8 percent (approximately 67,000 square meters/721,000 square feet) compared to the 3.3 percent recorded six months prior. Vacancy within the CBD increased from 2.1 percent to 2.8 percent, reflecting an additional 1,200 square meters (13,000 square feet) of vacant space.
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