Queenstown Figures H1 2026

SUMMARY

• Total office vacancy in Queenstown fell sharply in June 2026, dropping to 1.1% from 
  3.6% in June 2025, driven mainly by key take-ups of Prime office space in Frankton 
  and Secondary space at Stanley Street and Camp Street. Queenstown CBD, 
  particularly Shotover Street and Rees Street, still holds most of the remaining 
  unoccupied space.
• The Prime office submarket registered zero vacancy in June 2026, leaving only the 
  Secondary office submarket with some vacancy, albeit extremely low, at 1.9%. The 
  Queenstown industrial market also registered zero vacancy this year, unchanged from 
  June 2025. Severe shortage of available space and strong occupier demand continue 
  to define the Queenstown market.
• Even though leasing activity in the Queenstown industrial market was higher in 
  Frankton than in Queenstown CBD, the leasing activity in the office market was more 
  balanced between these two suburbs.