Commercial Figures Tauranga

New CBD construction is redefining A grade office space and setting new benchmark rents. Lower office grades exhibit markedly lower rents.

Consistent rental growth has been noted in the industrial market over the last ten years due to constrained supply, low vacancy rates and good tenant demand. Rents in the main industrial areas of Mount Maunganui and Tauriko have showed the strongest upswing. Despite recent economic headwinds, the last 12 months have seen several new leases indicating continued rental increases.

The ground floor commercial rental market in the Tauranga region is currently showing low to moderate rental growth in most areas. The two exceptions to this are firstly within the CBD where rental growth is concentrated to select areas (such as “Eat Street”) and a few new builds. Secondly, the main downtown Mount Maunganui commercial area has exhibited exceptional growth over the last five years.