Land Opportunities For New Offices In Auckland
There are a lot of opportunities around Auckland this year. With every opportunity open in this area, there seems to be an endless noticeable demand for commercial properties, for investor and owner-occupier commercial land. This is what John Ulrich, the commercial manager for Barfoot & Thompson in the foreword of the agency’s latest portfolio that is to be released within the week.
It was noted that until the moment of writing the article, the agency has more than $100 million worth of CBD properties contracts. It is stated that the demand for tourism opportunities, new office spaces, and redevelopment places and sites are being featured and presented in the Auckland market. The upward pressure on interest rates is now secondary to the lack of supply and low rates of vacancy for prime office and industrial markets. The new portfolio also has new featured properties which include two prime individual titles of properties in the heart of Newmarket. These titles are being sold by two separate agents and tenders are scheduled to be closed on May 17, Wednesday. These sites, located at436 Broadway and 89 Nuffield Street, is 1809 square metres in land space. A buyer could purchase the land in a “buy one or buy both” basis, this canbe an important development in the future. There is an existing Auckland Unitary Plan that has combined three street frontages has 117 metres in total and this is called the Zone Metropolitan Centre.
There are more land and commercial properties being sold all over thus providing new offices, new tourism sites, new places and sites to develop and renovate. New businesses and opportunities are being offered for the development and success of the different projects, especially for the CBD. These building and new properties would also mean new opportunities for the different markets and industries to sell and provide their services. New office spaces will mean new office furniture in Auckland offices and stores, more workers needed, more jobs for the people. These land for development, lease, rent, or sale, is under the zoned Business Local Centre for the Auckland Unitary Plan.