2023 New Zealand Regional Figures Report – Queenstown

This report offers a detailed overview of Queenstown's commercial real estate market for December 2023, covering office, industrial and retail sectors. It reveals that the CBD office demand remains steady, with rental rates holding steady over the year. In contrast, the Frankton office market sees an upward pressure on rental rates due to increased tenant demand. The industrial sector in Frankton and Gorge Road precincts see an uplift in rents, with vacancy rates remaining extremely low due to strong demand. Lastly, the retail environment sees rental uplift in the core of Queenstown CBD, while fringe tenancies have experienced little change. Overall, the report provides a thorough insight into the Queenstown commercial real estate market.