Exploring the surge in Wellington warehouse leasing options

The suburbs that have recorded the highest increases in leasing options and the suburb that recorded the largest decrease.

Surveying the Wellington region for warehouse leasing options larger than 300 square metres, we've seen a notable increase in availability. There are now 70 options compared to 45 this time last year.

This growth spans all categories, with C-grade warehouses experiencing the most significant rise. These spaces, typically ex-factory buildings with low to medium studs and columns, are becoming more prevalent in the market.

Gracefield-Seaview and Upper Hutt stand out with the largest surges in leasing options, Gracefield-Seaview rising from 5 to 14 and Upper Hutt from 7 to 14. On the other hand, Petone has shown a marked decline, with only 9 options available, down from 13 a year ago.

For a detailed breakdown of Wellington's industrial suburbs, including size bands and grades A, B, and C, feel free to request a copy of our full survey. This comprehensive data can be invaluable if you have a vacancy or are entering into lease negotiations.

If you're looking for a market update or want to see how your upcoming vacancy compares with others in the market/region, please don't hesitate to contact me.