Toward the next millenium: What Wellington CBD office tenants will require in the next decade

Abstract

The client, a major (fictitious) Pacific Rim-based property investment and development company, has instructed me to undertake a preliminary investigative study of a random sample of commercial office tenants in Wellington's central business district (CBD) to establish their needs, preferences and priorities in regard to their future office accommodation requirements. Part of this entails finding out what factors and expected future trends are most expected to influence tenants' decision-making processes. Extensive quantitative research on forecast supply and demand together with detailed economic feasibility analysis models, have already been completed by the client and further analysis in this regard is not required at this point. This project is designed to complement the client's earlier research by endeavouring to obtain the outlook, preferences and opinions of tenants to 'fill in the gaps' in the client's knowledge of the market to enable a 'full picture' to be put together prior to deciding whether the time is right to commence development. The best means by which to undertake such a project and obtain reliable data is to adopt primary research methodology, and to this end the study group undertook a random survey of 118 tenants from which 55 useable responses were obtained