Auckland Retail Q1 2016
Report Date 29 Feb 2016
Competition amongst high-end retailers for prime retail space remains fierce in the Auckland CBD. Changing consumer trends, the entrance of luxury retailers, and rising tourist numbers have further intensified demand for premium brands within the CBD. Prime retail rents within the CBD continued to climb, further increasing pressure on tenants and creating a landlord favoured market.Investor confidence and a strong high-end retail market helped increase the popularity of retail assets, driving average prime yields lower.