Queenstown Figures H1 2025

Key Points: 

• The Queenstown office market has circa 47,000 sqm of office space, most of it in Grade B and Grade A buildings. All the Prime office assets are located in Frankton, which continues to establish itself as the preferred office destination in the region.
• The total office vacancy rate was 3.7% during the first half of 2025. Notably, the Grade B submarket registered the lowest vacancy rate during this period (less than 1.0%). 
• Queenstown has some of the newest office buildings in New Zealand's major regional cities. Almost 89% of the total office space corresponds to buildings built after 2000.
• Queenstown has around 103,000 sqm of industrial space across 170 buildings. Frankton is the suburb with the largest industrial footprint in Queenstown.
• Queenstown had zero industrial vacancy during the first half of 2025. It represents the tightest industrial market in New Zealand, underpinned by robust occupier demand and lack of new supply.