Auckland offices vacant as capital feels the squeeze

New Zealand’s largest office space investor sees a stark contrast in our two largest cities, with a shortage of prime space in Wellington as its new Auckland building lies almost empty.

AMP NZ Office Trust, which owns $1.3 billion in prime office space in Wellington and Auckland, reported a 12 per cent rise in distributable profits to $47 million for the nine months to March 31 yesterday.

Chief executive Rob Lang said despite the backdrop of a weak economy, the trust’s occupancy level in the capital was at 98.6 per cent, with demand from businesses for more…….

Read the full article here > http://www.stuff.co.nz/business/industries/3618624/Auckland-offices-vacant-as-capital-feels-the-squeeze