OPINION

Overall, demand for commercial leasing in Auckland has maintained strong, regardless of lockdowns and whatever traffic light we are flitting in and out of. However, as a decline in requests for office and some retail has been apparent due to lockdowns, the market has stayed steady and the demand for combined live/work sites and small to medium size warehousing has been extremely high of late.

Most of the people contacting me for live/work sites are hoping to reduce costs by amalgamating their home and work premises. They can be a very cost-effective answer, allowing a business site and place of residence, in an otherwise unaffordable and tightly-held area. This has been especially true with city fringe suburbs.

I have also noticed many new business owners coming through from a wide array of industries. In some cases it is due to a change in career, leading to new ventures, new in-demand products or some are just wanting more control and stability. Many small businesses have been experiencing growth due to increased demand, reduced availability from overseas competitors or they are holding more stock due to slow transport networks, and increased 3pl and freight costs. With a lot of tightly held, well-established areas the popularity of these sites as seen a rise in rent.

So, my advice …. If you’re looking for a site and you find one you like. Move fast!

Steve 🙂

NB: This is an opinion piece based on personal experiences and is not a substitute for seeking professional or legal advice.