Premium And Luxury Retail The Big Winners As Life Returns To Auckland’s CBDPosted by On

Buoyed by an almost 50% increase on 2022 Q1 spending,
according to the latest Heart of the City figures, retail
operators are now having to compete to secure prime
locations in the CBD.

JLL NZ’s Head of Retail
Leasing and Metro Sales, Nilesh Patel, says premium and
luxury spaces, particularly those close to the waterfront at
the lower end of Queen Street, have been in most demand so
far in 2023, with a number of high-profile tenants securing
prime sites since the beginning of the year.

was hit as hard as any sector by the pandemic, and this
strong competition for space as it comes to market is a
clear indicator of the sector’s return to health,” says

“The return of tourists, cruise ships,
international students and office workers have increased
foot traffic through the CBD, while initiatives such as the
pedestrianisation of Queen Street have created a more
human-centric environment in the city centre that supports
retail and hospitality investment.”

Heart of the
City Chief Executive, Viv Beck, says she’s pleased to see
‘leased’ signs appearing on retail sites across the
city, on the back of increased domestic and international
activity and in anticipation of significant infrastructure

“Our March quarter results show spend had
returned to 82% of 2019, with 27% of this coming from
international visitors. Fridays and Saturdays are…

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