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Invest in commercial property

Wellington is a great place to do business, and we have excellent commercial real estate available at competitive rates across the Wellington region

Wellington’s commercial property portfolio offers lower net prime rents and higher market yield than other major New Zealand cities (Colliers International Workplace Report, 2014).

Commercial property in Wellington is a great option either for an investment base or for your own business. Many commercial properties can be purchased with leases and tenants already in place.

PWT Telecom Building 02

As well as some prime central city locations, there are opportunities for cost-effective options in the Hutt Valley, Kapiti Coast, Porirua and Wairarapa regions.

In the Wellington CBD, the average total occupancy cost is $345 per square metre, compared with a national average of $399 per square metre.

This is lower than Auckland's average of $553 per square metre (Colliers International Workplace Survey, 2014).

Commercial office costs per square metre

 

A Grade

B Grade

C Grade

Gross face rents ($/m2 per annum)

425 – 460

225 – 290

155 - 180

Outgoings* ($/m2 per annum)

85 – 110

70 – 95

60 - 85 

Incentives (%)

0 – 3

0 – 10

0 – 15

* Including ground rent where appropriate
Source: Colliers International Research New Zealand CBD Office Report

Wellington’s commercial construction activity is expected to increase by 49 per cent in the 2012 – 2019 period (Bayleys, 2015).

With upcoming major infrastructure projects, Wellington is on the verge of a big construction boom, which will energise the region’s commercial and industrial property market.

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