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Building Portfolio Purchase A “Strategic” Move To Create New Heart In Invercargill

Sep 28, 2017
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What's On Invers Business News Presented by and

Further to whatsoninvers.nz breaking news story earlier this week, HWCP Management Ltd announced in a press statement today (September 28) confirming the company’s purchase of a portfolio of “strategic” CBD properties in Invercargill.

Company directors, Scott O’Donnell and Lindsay Thomas, were pleased with the announcement which included the purchase of multiple properties between Don, Esk, Kelvin and Dee Streets, previously owned by an overseas investor.

Mr O’Donnell said the purchase was a key point to the development of the CBD, and was in line with the company’s goals of aligning with Southland Regional Development Strategy (SoRDs) strategies.

“Invercargill needs a new heart, we can’t achieve this unless we have control of the land and buildings in this key block.

“We already have a hotel and a movie theatre on this key block which gives us a good basis to create this new heart for the city,” Mr O’Donnell said.

“HWCP Management Limited will now look to develop concept plans to revitalise the CBD, and will be working with current and new tenants to get the best result for the city, and for the city’s businesses.”

HWCP is a joint venture between Invercargill City Property Limited and HWR Property Limited. HWR is a part of H.W. Richardson Group Limited, while Invercargill City Property Limited is part of the Council-owned Holdco investment enterprise.

whatsoninvers.nz originally broke this story on Tuesday when tenants of the properties involved in the sale received an email advising them of the change of ownership.

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