Auckland New Development Monitor May 2025

Key Points:

• The active development pipeline (projects where physical work has commenced or is considered imminent) across the office, retail and industrial sectors currently comprises 43 projects. The industrial market dominates, with 28 projects in the active pipeline, followed by the office market with 10 projects. Retail has five active projects.
• Wiri, Penrose and Drury are the top three most active precincts for industrial development. Five new speculative warehouses, around 65,000 sqm are being built on Puhinui Road by James Kirkpatrick Group, which is the biggest new project in Auckland. Penrose has the second biggest active pipeline including both owner-occupied redevelopments and speculative developments. In Drury, a Briscoes’ new distribution centre and NZ Safety Blackwoods’ new warehouse by Calder Stewart commenced the construction work while Cardinal Logistics is completing the new warehouse’s fitout work.
• Pumanawa Downtown West’s office component is now expected to be 62,500 sqm, larger than any single office building currently operational in New Zealand.
• Westgate precinct has the largest active retail development pipeline in Auckland, at ~42,000 sqm. The IKEA store in Mt Wellington is the largest individual project at ~34,000 sqm under construction.