Snapshot - Eden Terrace Leasing 2016
Apr 12, 2016
Further to our first snapshot of the year which focussed on the revitalisation and resurgence of Eden Terrace with a number of strong sales in 2015, our next snapshot returns to this favourable location as we look at the popularisation of the area to tenants.
Eden Terrace has become an increasingly favoured suburb for tenants for many of the same reasons that it appeals to owner occupiers, investors and developers. The convenience to the main arterial routes of Symonds Street, Mt Eden Road and New North Road as well as the close proximity to the CBD, Ponsonby and Newmarket are one of the main reasons why Tenants are drawn to this location. Not only is it accessible but it is surrounded by fantastic amenities which staff can enjoy.
Relatively lower rental rates compared with surrounding suburbs are another massive draw card for tenants looking in Eden Terrace. With record sale prices being achieved and rising rental rates in surrounding areas, leasing and in particular the Eden Terrace location has become increasingly attractive in terms of value for money with historically lower rental rates than other areas such as Kingsland, Ponsonby, Newmarket and Ponsonby.
The City and Fringe team have completed a number of deals which you can find below, resulting in very happy vendors in the past 6 months.
If you would like to discuss these or any other transactions in more detail, please do not hesitate to contact me or one of the city and fringe team.
Previous Market Commentary: Snapshot - City & Fringe Office Unit Titles