Newmarket / Parnell is a prime-tier Class A submarket of Auckland with average asking rent around NZ$380/sqm/yr · ≈ $20.8 PSF/yr USD.
Inner-suburban professional services Class A. · Tier: prime · Avg rent: NZ$380/sqm/yr · ≈ $20.8 PSF/yr USD
Newmarket and Parnell anchor Auckland's principal inner-suburban Class A submarket — professional services, healthcare, and creative agencies in heritage and post-2010 mid-rise stock.
Healthcare, professional services, creative agencies, retail HQs.
15–40,000 sqft floor plates available across newer Class A stock; 9'+ slab-to-slab and modern MEP common.
AT train (Newmarket), bus.
Multi-modal transit captures the metro's principal professional catchment.
Newmarket retail, Auckland Domain, Parnell village.
Newmarket / Parnell is one of 5 Class A submarkets we cover in Auckland, classified as prime tier with an average asking rent around NZ$380/sqm/yr · ≈ $20.8 PSF/yr USD. Compared with the broader Auckland Class A stock, Newmarket / Parnell typically attracts Healthcare, professional services, creative agencies, retail HQs and competes most directly with the city's other prime submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Newmarket / Parnell: Britomart, Wynyard Quarter, Queen Street CBD, Viaduct Harbour. The full Auckland submarket atlas is at /cities/auckland.
For an institutional Class A occupier evaluating Newmarket / Parnell, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Auckland Class A leasing and to the prime tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.