Cambridge Place Arcade And City Centre Buildings Sold To New Owners

Breaking News: whatsoninvers.nz understands many of Invercargill’s city centre business owners and building tenants on Tay, Kelvin and Esk Streets, including tenants in Cambridge Place Arcade; were told today (September 26), that they will have new owners and landlords by Friday.

Our sources say many of the buildings are understood to have been owned by the British “blue-blood” syndicate – which was purchased by the group in 2008/09.

Cambridge Place Arcade was identified in the Southland Regional Development Strategy action plan alongside other concepts to rejuvenate Invercargill’s city centre last year.

It is understood Richard Innes, of Auckland, who manages the arcade properties for the England-based owners, had been in discussions with Southland property investors and owners for the past year.

Many of the business owners confirmed to whatsoninvers.nz the new owners were HWCP Management Ltd – which is a joint business venture between the Invercargill City Council-owned Invercargill City Properties Ltd and the Invercargill-based HWR Group, which was formed at the end of March this year.

More to come on this exciting development later in the week.

On Thursday 28th September a media release confirming the above was sent from ICC & HWR.

https://whatsoninvers.nz/building-portfolio-purchase-a-strategic-move-to-create-new-heart-in-invercargill/