Vacancy rates in fringe-city Auckland office blocks could rise due to the slump in foreign language schooling, says a real estate consultant.
Tuesday, September 9th 2003, 6:56PM
by The Landlord
Colliers International corporate services director Alan McMahon, who is also the Property Council's chairman of research, said the collapse of one of Auckland's biggest English language schools could send a warning to commercial landlords who have rented much of the city's fringe office space to the businesses.
The Modern Age Institute of Learning shut its doors last week.
McMahon said secondary fringe-city office space vacancies could rise from 12 per cent to 20 per cent.
