Tag Archives: Leasing

Talking up modern office space to create demand…

With this kind of messaging in ODT (see below) – via Colliers – expect more consent applications for demolition and the construction of new buildings? Or was that “stand alone car parks” throughout Dunedin’s heritage fabric? See the ruination of townscape and listed precincts by a handful of rascal building owners who will not “build” in upper Stuart St, High St, and pending for Rattray St, Dunedin. Who has the money available for new-build officing in the CBD?

In Dunedin, it’s common knowledge in the building sector that strengthening an existing heritage building is approximately 10% of the cost of demolishing and erecting a new building (of similar scale) on the same site. People are doing their sums! Why else is fabric retention making economic sense right now for those actively engaged in heritage building investment and enhancing building performance. Good numbers of enlightened property owners* are at work in the private sector, keeping up the fabric, who don’t believe in demolition by neglect.

*Prospective tenants, talk to these people!

### ODT Online Mon, 10 Sep 2012
Modern office accommodation in demand
By Simon Hartley
Commercial property rents in Dunedin’s central business district have increased slightly over the past year, with other data revealing Dunedin offers employers the lowest operating costs and the most space for employees. However, Christchurch’s earthquakes have sent jitters throughout the commercial property sector around the country, especially for older buildings and how they may be affected by insurance premium hikes. Colliers International, which monitors 160,000sq m of office space in Dunedin, has just released separate annual reports, on CBD office space nationwide and a workplace report. As Dunedin lease renewals come up, Colliers was seeing a push from tenants, especially those in older buildings, to relocate to modern office accommodation.
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Posted by Elizabeth Kerr

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