How Auckland businesses are battling the pricey property boom

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Kiwis across the country are more than sick of hearing about the skyrocketing property prices that have hit the city of sails but first-time buyers aren’t the only one battling rising costs – big businesses are too.

Campbell Pritchard, Head of Office Services at CBRE New Zealand, says employers are being forced to consider their property choices more carefully and it seems modern options are becoming increasingly popular.

“Businesses are willing to pay higher per sqm rental rates for Prime Grade buildings with quality fit-outs and efficient floor plates because of their positive impact on staff costs per head,” he explained.

The commercial realtor says modern properties are becoming more popular among large employers as they often provide the opportunity for businesses to occupy a single, large office floor, or smaller but more efficient floors, as opposed to spreading their staff across two or more floors in older-style buildings.

This is because they can accommodate more people in a big open-plan space, with less space taken up by non-productive uses such as stairwells and foyers.

But cost-cutting isn’t the only upside – companies are increasingly realizing the benefits of a well branded, attractive office – specifically, attraction and retention.

Larger businesses across the CBD are seeking out property options that can deliver more bang for their buck as well as an up-to-date, modern corporate environment that can assist in attracting and retaining staff, says Pritchard.

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