Queenstown Industrial Market

Construction boom continuing to underpin business growth and confidence for occupiers of industrial and commercial property. Critical shortage of land available for industrial development. Currently industrial and commercial property has the lowest vacancy rate on record.

Shortage of industrial property for lease, and the high cost of construction of new buildings, resulting in rent increases. Increases in land values expected to continue due to lack of supply in immediate area. Viability of new commercial and industrial properties being challenged by increasing development costs. Long term the ongoing population growth projections will result in a continued demand for commercial and industrial space that will put pressure on rentals to rise.