OFFICE ACCOMMODATION.

New Zealand Herald, Volume LVI, Issue 17251, 29 August 1919, Page 6

OFFICE ACCOMMODATION.

—■■■■■ --.—- ■<£&■ I. ■-~. SHORTAGE IN THE CITY. [ AN INCREASING DEMAND. 5 There is a great shortage of office accom- » modation in the city, particularly in' Queen Street. Land and estate agents rs--1 port that in none of the large office buildings are there more than one or two email rooms to ]et, and in some of them no offices at all are vacant. There is a strong demand for suites of offices, and in some instances agents have had to give notice to small tenants in order to enable them to accommodate clients seeking suites. The demolition of Hohson Buildings in Shortland Street hag accentuated the position, since the tenants who have had to vacate those premises have had to find offices elsewhere. Some of these have been compelled to occupy rooms not altogether suitable to - their requirements. In the great majority i of cases offices in the principal thorough- . fare are sought, But some business people 4 have been unable to do better than obtain accommodation in the subsidiary street?. ■ The largest building available for office ' leasing in the city is that of the Now * Zealand Insurance "Company. A structure " of this size, looked upon as almost a luxury before the war, is now recognised as a necessity, and beyond a doubt more } buildings of its size and typ6 are required. There is a large basement'in the New Zealand Insurance building which the company contemplates sub-dividing for office purposes, which would relieve the present situation to some degree. The drawback would be 'the necessity for the use of artificial lighting, but" the company intends shortly to improve the ventilation of the basement. Agents express the opinion that a golden opportunity offers itself to owners of Queen Street properties to erect modern office buildings, the demand for ac- > commodatiott in which will inevitably increase!