Rental Guidelines  
 
Comparative Industrial Warehouse Rentals

The following comparative table has been compiled by our independent valuers in October 2009, to provide a general overview of Wellington Warehouse Rentals.

 
Location Prime $ Secondary $
Eastern Suburbs
Miramar/Kilbirnie/Rongotai/Newtown $120-$135 m2
$10 - $12 ft2		 $95-$115 m2
$8-$10 ft2
City Fringe
Te Aro/Hutt Road $165-$185 m2
$15-$16 ft2		 $135-$160 m2
$13-$15 ft2
Ngauranga
Jarden Mile/Centennial Highway $160-$190 m2
$13-$14 ft2		 $120-$145 m2
$12-$13 ft2
Wellington North
Grenada/Tawa $95-$115 m2
$9-$10 ft2		 $80-$95 m2
$7-$9 ft2
Porirua
Elsdon/Broken Hill $80-$110 m2
$7-$9 ft2		 $55-$75 m2
$6-$7 ft2
Kenepuru/Linden $120-$135 m2
$9-$11 ft2		 $90-$110 m2
$8-$9 ft2
Hutt Valley
Gracefield/Seaview $95-$115 m2
$7-$9 ft2		 $65-$80 m2
$6-$7 ft2
Petone/Alicetown $105-$120 m2
$10-$12 ft2		 $90-$105 m2
$9-$10 ft2
 
Lower Hutt $105-$120 m2
$10-$12 ft2		 $90-$105 m2
$10-$11 ft2
 
Wingate/Taita $80-$95 m2
$10-$12 ft2		 $55-$80 m2
$10-$11 ft2
 
Upper Hutt $70-$90 m2
$5-$7 ft2		 $40-$65 m2
$4-$5 ft2
Note:

Prime: Refers more generally to good clean modern high stud warehouse space, more permanently constructed and under 10 years old or extensively remodelled.
 
Secondary: Refers to not so well located and/or positioned warehouse premises, which may be older, in the order of prior to 1980, of low to medium stud height or display some shortcomings in design, construction, configuration, services or access.
 
The definition and rental guideline for "secondary" does not allow for premises of "poor" quality and conversly "Prime" does not include for "new" or to be built. Seek our specialist advice in this regard.

  - Rental guide is based upon; typical 500m2 warehouse premises.
- Warehouses outside the range 500m2 could vary +/- 20% for size alone.
- Integral Offices and amenities are generally $20 - $35 m2 higher than warehouse component.
- Warehouse rate excludes showroom influence/potential.
- Rental Rates are based on standard ADLS lease.
- Rentals are indicative only and reflect total occupancy costs (excluding GST and normal tenant consumables including energy and utilities; rubbish removal; cleaning and provisioning).

Some of the main variables that will impact on the indicative rates include:
- Size and Shape
- Age and presentation
- Stud Height
- Access - Onto property/yard and into building
- Profile to passing public - advertising potential and aesthetics
- Configuration - Office/warehouse/yard relationships - columns & obstructions
- Lighting - Standard of natural and artificial lighting
- Services - power reticulation, fire equipment, and conveniences and ablutions
- Supply/Demand prevailing within the particular market
- Motivations of the parties transacting
- Lease Terms and Conditions


Disclaimer: Whilst care has been taken in the preparation of this information no responsibility is taken for the use of this material, reference to a professional adviser is recommended.