Lockdown aftermath: Auckland retail property vacancies double

12 Vulcan Lane, valued at $3.8m, is one of 167 retail properties on the Auckland market.

Tue, 09 Mar 2021

The latter part of last year was not kind to retail property owners in Auckland.Vacancies have almost doubled in the central city, up 344 basis points to 6.7% after initially weathering the covid lockdown storm.Real estate and investment management group Jones Lang LaSalle said there had been an additional 5,439 square metres of vacancies during the last quarter in the city. While this followed a bounce in domestic retail trading following covid disruptions, demand for CBD retail space remained “very sector-specific”, its lates...

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