• Wellington retailers are forking out hundreds of dollars more for rent each year than their Auckland counterparts.

New research from Colliers International shows that Wellington retailers are paying $1257 gross per square metre to rent prime space in the central city, while Auckland-wide retailers are paying $1017 net per square metre.

The rise in rents are a consequence of the demand, with an increase in new entrants and more retailers relocating.

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MAARTEN HOLL/FAIRFAX NZ
The completion of the David Jones refurbishment hasn’t meant more space is available to lease.