The value of Commercial Property
Commercial property is a significant asset to our CBD's when attractive and well utilised, generating revenue for owners and contributing to the CBD vitality and sense of place.
There have been a number of difficulties for commercial property including the Building Amendment Act 2016 which raised building standards after the Christchurch Earthquake.
More recently, Covid - 19 has accelerated the idea of remote work. Offices in our cities are already feeling the effects of the Covid-19 pandemic with businesses looking to downsize space as more staff work from home.
There are a range of opportunities to reuse your commercial property including some which may be currently occupied. Residential development is an obvious option as a start.