Can Auckland CBD bounce back? Retail vacancies, rail link and recovery - The Front Page

Auckland’s CBD should be at its brightest right now, but this Christmas season has exposed just how far the city has slipped.

The former Smith & Caughey’s building, once the centre of Auckland’s festive traditions with its iconic window displays and enchanted forest, now sits dark.

Across the CBD, retail spending is down, site vacancy rates are up, and the district has been plagued by stalled developments and empty lots.

But could a new life for Auckland be on the horizon? The long-awaited City Rail Link is set to open next year, and Seascape, the country’s tallest residential tower, is resuming construction after delays.

NZ Herald property editor Anne Gibson told The Front Page that the noticeable decline of retail in Auckland’s CBD isn’t just anecdotal.

“In May, Bailey’s did a study of the CBD retail area of Auckland and what they found was that 13% of it is vacant now. That was actually down on what it had been.

“But still, in other parts of New Zealand, it’s not as high as that, and the suburban areas of Auckland are not as high.

“For example, the vacancy rate on the North Shore in retail is only 5%, West Auckland 2.8%, the wider Auckland metropolitan area 4.3%, and South Auckland only 3.1%,” she said.

Listen to the full episode to hear more about:

• Auckland CBD’s retail decline.
• Empty and derelict sites.
• Landmark closures and changes.
• The future of the city.

The Front Page is a daily news podcast from the New Zealand Herald, available to listen to every weekday from 5am. The podcast is presented by Chelsea Daniels, an Auckland-based journalist with a background in world news and crime/justice reporting who joined NZME in 2016.

You can follow the podcast at iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.