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Christchurch CBD and Suburban Office Pulse 1Q11

There was an increase in Christchurch occupier activity over 2H10 due to occupiers requiring temporary accommodation after the September 4th earthquake. This was evidenced by Westpac Bank and AMI leasing approximately 3,000sqm of space on a short term basis at Goodman Property Trust's 22,000sqm Show Place Office Park in Addington. The Business Park currently houses Blud Chip tenants such as IAG, Nestle, Solid Energy and Transpower. While this has helped to restrict the suburban office vacancy rate from moving above the estimated 15% over the short-term, vacancy rates in the CBD are still historically high...

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