Christchurch CBD losing relevance for businesses
A CBRE survey suggests the delays in the Christchurch rebuild is turning off potential tenants
More Christchurch businesses see the central business district as irrelevant.
A CBRE survey suggests that demand for Christchurch office space may reach about half of what it was formerly (390,000sq m).
The research, which was carried out jointly by CBRE and Lincoln University in January and follows a similar survey carried out in August.
In August, 44% of dislocated businesses said they wanted to move back to the central city. Now, just 32% are considering moving back.
This decline has occurred because of frustration with rebuild delays and the possibility that rents will be unaffordable in new buildings.
“Suburban locations have also become more attractive as changes to the businesses client base mean that a CBD location is of lesser importance.”
The “ambitious and uneconomical” central city plan was blamed by many respondents.
Chris Hutching
Fri, 24 Feb 2012
Fri, 24 Feb 2012
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Christchurch CBD losing relevance for businesses
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