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Location remains the paramount focus for many retailers in the Wellington retail market, causing prime areas within the CBD to experience stable levels of demand over the second half of 2012. Peripheral secondary retail precincts are seeing reduced levels of demand compared to prime, resulting in an on-going vacancy lag. Overall, we have seen the vacancy rate shift 120 bps to 4.3% hich equates to 4,800 sqm of total vacant retail space in the CBD and Southern CBD.
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03 March 2013