commercial property


PHOTO: ROSS GIBLIN Wellington is a compelling investment story because of both rising commercial property rents and property prices, says real estate specialist CBRE.

Wellington is a “compelling” investment story with its strongly rising commercial property values and rents, says real estate specialist CBRE.

In its Marketview, Wellington Q2 2019, CBRE said most commercial property markets in Australasia were cooling off with rental growth plateauing, but not Wellington.

The value of commercial and industrial property had risen strongly in the year to June 2019 in Wellington driven by demand for office and industrial buildings.

The average value growth for office, retail and industrial properties in Wellington reached 7.8 per cent in the 12 months to June 2019.

Office rents rose 7.4 per cent from the previous year and industrial rents 8.9 per cent, however retail rents fell 2.7 per cent.


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