Archive | Opex statistics

Office opex falls 2.6% in cbd, rises 23% in suburbs

Median total office operating expenses have fallen 2.6% in downtown Auckland this year, but outside the cbd they rose 23%, according to the Property Council’s annual opex survey.

Click the thumbnail to check the comparisons.

The Auckland cbd office opex fell from $84.34/m² to $82.15/m², still the highest in the country. The Wellington cbd median fell from $79.85/m² to $77.31/m², the Christchurch cbd median rose from $37.17/m² to $39.18/m² and the median for non-cbd office buildings in Auckland rose from $48.02/m² to $59.13/m².

Rates were lower, insurance costs continued to increase and, except for non-cbd Auckland, total energy expenses showed little movement.

Non-cbd Auckland energy expenses rose 20% to $5.18/m² and insurance costs rose 24% to $3.24/m². Administration, cleaning, airconditioning & heating and repairs & maintenance all increased significantly in that market.

The total operating cost for A grade cbd office buildings fell 1.15% to $108.73/m², B grade fell 3.67% to $82.90/m² & C grade fell 2.14% to $68.50/m². The Property Council also included an “oither grade” category this time, with median total operating costs of $56.22/m².

The office survey covered 119 properties Auckland, Hamilton, Wellington & Christchurch, covering a total rentable area of 1,014,236m².

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