Zoning

Queenstown Industrial Market

As Queenstown recovers from the Covid pandemic years, there is a construction boom continuing to underpin business growth and confidence for occupiers of industrial and commercial property is continually increasing as the tourism market bounces back. There remains a critical shortage of land available for industrial development. Currently, industrial and commercial property has the lowest vacancy rate on record.

A shortage of industrial property for lease, and the high cost of construction of new buildings, are resulting in steady rent increases.

The viability of new commercial and industrial properties is therefore being challenged by increasing development costs.

Long term the ongoing population growth projections will result in continued demand for commercial and industrial space that will continue to put pressure on rentals to rise.