The number of empty stores is on the rise in two of our biggest cities
The number of empty stores is on the rise in two of our biggest cities
22 June 2021
Commercial real estate firm JLL has put out its latest retail market snapshot.
It shows the Auckland CBD vacancy rate is past six per cent, while in Wellington's CBD it's more than seven.
The capital's Golden Mile and Auckland's Queen Street are the biggest victims.
Head of retail Nilesh Patel says Auckland's vacancy rate is well above what it's been in previous years.
He says a lack of visitors and office workers still deciding to work from home, are contributing to the shop closures.
Patel says we're mainly seeing closures of food and beverage outlets, gifts and the travel sector -- some of which have been around for many years.
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