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Bayleys Research


Wellington CBD Offices 2nd Half 2007

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Introduction

The Government sector continues to be the dominant driver of the Wellington commercial office scene. The increasing appetite for space in an already tight market is having implications for available space and rental levels. Furthermore, the increased awareness of climate change is seeing Government tenants look to Green Buildings as a means to illustrate commitment to the worldwide concern of energy efficiency and carbon footprints.

Government domination of the Wellington CBD has seen them now occupy almost 40% of the total commercial office floor space in the Wellington CBD. This level has been reached after a surge of floor uptake over the last five years which has seen an additional 142,000m2 of space occupied. These are quite staggering numbers and illustrate the growth of the public sector.

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