What's a typical lease term in Auckland?

6 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.

How is rent quoted in Auckland?

In NZD/sqft/year. We also publish a USD-normalised view ($460/sqft/yr) for cross-market comparison.

New Zealand modified-gross structure (tenant pays operating expenses and rates as recoveries).

Typical lease length: 6 years.
Typical rent-free: 6 months.
Vacancy: 9.4%; trend flat.
New Zealand modified-gross structure (tenant pays operating expenses and rates as recoveries).

Auckland office lease norms

New Zealand modified-gross structure (tenant pays operating expenses and rates as recoveries).

TL;DR

Typical lease length: 6 years.
Typical rent-free: 6 months.
Vacancy: 9.4%; trend flat.
New Zealand modified-gross structure (tenant pays operating expenses and rates as recoveries).

Structure

New Zealand modified-gross structure (tenant pays operating expenses and rates as recoveries). 6-9 year terms standard. CPI-indexed reviews common; market reviews every 3 years typical. Rent-free of 4-8 months on 6-year terms plus NZD 800-1500/sqm TI.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

city	Auckland
country	New Zealand
region	APAC
classARentLocal	750 NZD/sqft/yr
classARentUsd	$460/sqft/yr
vacancy	9.4%
typicalLeaseYears	6
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	5.8%

Frequently asked questions

What's a typical lease term in Auckland?: 6 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Auckland?: In NZD/sqft/year. We also publish a USD-normalised view ($460/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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