# Auckland office lease norms

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

**Canonical URL:** https://classa.info/cities/auckland/leasing-conventions
**Page type:** city-topic
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## 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).

## Key facts
- **city**: Auckland
- **country**: New Zealand
- **region**: APAC
- **classARentLocal**: NZ$750/sqm/yr · ≈ $41.1 PSF/yr USD
- **classARentUsd**: $41/sqft/yr
- **vacancy**: 9.4%
- **typicalLeaseYears**: 6
- **typicalRentFreeMonths**: 6
- **submarkets**: 5
- **primeYieldPct**: 5.8%

## FAQ
### 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 ($41/sqft/yr) for cross-market comparison.

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Citation: Source: Class A Atlas (https://classa.info/cities/auckland/leasing-conventions), updated 2026-04-15T00:00:00.000Z.