Office buildings in inner-city Wellington are the most expensive to operate in the country.
Tuesday, October 25th 2005, 7:52AM
by The Landlord
The capital has taken over this position from Auckland, according to a survey of building operating expenses by the Property Council.
Council rates are the biggest single operating expense. They fell slightly in the Auckland central business district this year, while in Wellington they have risen.
The median total operating cost of an Auckland CBD building is $78.49 a square metre, compared with $82.15 last year. In Wellington, that figure is $78.91 a sq/m, a rise from $77.31.
The big rise in New Zealand's insurance costs in recent years seems to have eased, Auckland and Wellington both recording a slight fall in median insurance costs.
Energy is the second-biggest cost. Although there was little change in these for buildings in Auckland, the median cost in Wellington rose 17 per cent.
