Hawkes Bay remains a high rider

Despite the economic slowdown, good tenant and investor interest in the Hawkes Bay continues to underpin the commercial and industrial property.

Ian Little, senior analyst for Bayleys Research, says the market has remained active during the past 12 months with tenant demand remaining high, particularly for retail property within established shopping precincts.

The latest occupancy survey conducted by Logan Stone shows the overall occupancy rate to have risen to 95.1 per cent from 94.8 per cent a year earlier. The survey tracks the occupancy rates within ground floor retail tenancies in a defined retail core in Napier, Hastings, Havelock North and Taradale.

The highest occupancy rate was recorded in Havelock North for the fourth year running and stood at 99.2 per cent. Little says this consistently high rate of occupation has been maintained despite the expansion of the retail sector in Havelock North in recent years as a result of the town's growing popularity as a lifestyle location.

To read the full NZ Herald story click here

Posted: 19 Jan 2009

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