Number of Auckland industrial vacancies drops
The improvement in leasing activity started in June 2011 after two years of rising vacancies.
The former Manukau City industrial vacancy rate is down 0.9 percentage points in the last 12 months. In June 2012 vacancies were at 4.6%, down from 5.5% in June 2011. This decrease is due to a mixture of large tenancy movements. Darroch’s report cited PMP Print Ltd, which consolidated all of its operations into 18,500 square metres of industrial space at 44 Dalgety Drive, Wiri.
The former Auckland City industrial vacancy rate fell a marginal 0.1 percentage points from 4.6% in June 2011 to 4.5% in June 2012. It is the third consecutive year of decrease in vacancy since the June 2009 peak.
The North Shore City industrial vacancy rate had a drop of 1.7 percentage points over the past year. This is down from 9.0% in June 2011 to 7.3% in June 2012 as a result of slightly smaller tenancy movements contributing to the overall decrease in vacancy. This is the second consecutive year the leasing activity for this area has improved.
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