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Research

Report

Wellington Industrial - February 2010


Occupier demand in the industrial market  has softened further in 4Q09, especially for premises in secondary localities with vacant space remaining in poorer quality and inefficient buildings. The sector currently has a vacancy rate of 4.9% overall, which is up from 3.8% in 2Q09. While this overall increase has been experienced in most precincts, the vacancy rate in Ngauranga and Grenada North decreased since 2Q09. It is beleived that as we begin to see signs of economic recovery some industrial precincts, especially those with well positioned, easily accessible and modern premises may experience growing tenant interest.

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