Wellington commercial property

The SST reports that the ever growing public sector leased an extra 28,000 square metres of floor space just last year. Since 2001 over 100,000 square metres of space has been grabbed.

I experienced this first hand last year when we twice had to move Mark Blumsky’s campaign office because a government department had purchased or leased the building we were in.

This has of course been great news for Wellington commercial building owners as rents keep skyrocketing as demand outstrips supply. The losers though are the private sector tenants who keep having their rents go up because of the ever increasing public sector.