Plans for about $330 million of new Auckland office blocks are a sign of confidence in the CBD, says Alan McMahon, research and consulting director at Colliers International.
He said the developments under discussion sent out generally healthy signals about market conditions.
"If two new buildings currently being discussed proceed, vacancy will increase further from 2013. However these possibilities can be viewed as a vote of confidence in the CBD."
ASB and ANZ are said to be on the hunt for new premises, wanting to consolidate in single purpose-built buildings with naming rights.
Kiwi Income Property Trust might build a $130 million block on leasehold land in the Viaduct Basin area and a private developer has plans for a $200 million block.
Kiwi could build on Halsey St and the trust's $125 million mandatory convertible notes issue in November could be used partly to fund that.
A bank would lease the building for 18 years and this would be Kiwi's second big development after Sylvia Park.
Developer Tim Edney has applied for resource consent to build a 26-level office tower opposite Britomart.
$330m vote of confidence
Alan McMahon. Photo / Supplied
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