Wellington New Development Monitor May 2025

Key Points:

• There are currently 11 active commercial developments under construction in Wellington, totalling nearly 73,000 sqm of new stock.
• They include eight new office developments (around 70,000 sqm), two new industrial projects (circa 2,500 sqm) and one small new retail development (200 sqm) that encompasses the retail component of a new office building in Thorndon.
• More than half of the office developments under construction are situated in the Core precinct of Wellington’s CBD, with four active projects that will contribute approximately 36,000 sqm of new office space. Additionally, Thorndon will host the only new built office building in Wellington in 2025-2026 period (the rest are all refurbished/redeveloped assets), providing around 19,000 sqm.