Christchurch New Development Monitor November 2024

Key Points:

• The active development pipeline, encompassing office, retail and industrial projects where construction has either begun or is expected to start shortly, includes a total of 39 projects. This equates to roughly 140,200 sqm of new commercial stock.
• The industrial sector leads, representing 48% of the total new pipeline NLA, which is about 68,000 sqm. Retail developments make up 36% (around 51,000 sqm), while office developments account for the remaining 15% of the total new pipeline NLA (approximately 22,000 sqm).
• Hornby is, by far, the most active precinct for industrial developments, with 10 projects totalling circa 34,000 sqm, followed by Middleton and Rolleston, which combined have 6 active new developments (around 18,000 sqm).
• Office development is monopolised by Christchurch Central, with 9 active projects representing 94% of the total NLA in the pipeline.