Commercial leasing
Good quality office space in the Manawatu ranges between $190 and $210 per sq. metre per annum, plus outgoings and GST.
Good quality factory and storage space is between $70 to $75 per sq. metre plus outgoings and GST.
Retail space costs vary markedly. The Plaza shopping centre space in the centre of Palmerston North is around $900 per sq. metre plus outgoings and GST, whereas one street away, in Broadway, is around $400. Costs vary around the Square in the centre of the city, according to which side of the Square the building is located. It ranges from $250 per sq m to $600.
Supply in 2006
Office space is scarcer than it was two years ago. Most of the tower buildings in the city are close to 100 percent occupied, although more obsolete space is still available in good supply.
Retail space in the CBD is still available in good supply.
The major gap in the Palmerston North market is large format retail space in excess of 1000 per sq. m.
Industrial land is also scarce. There are few small sites available in the city and even the supply of larger industrial sites is dwindling.
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