New Company Formed For Future Of Invercargill’s City Centre

May 17, 2017
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Invercargill City Properties Ltd and HW Richardson Group have formed a joint venture company to assist with future development opportunities for Invercargill’s city centre, the Invercargill City Council released in a statement.

The Chairman of Invercargill City Holdings Ltd, the City Council’s holding company which owns Invercargill City Properties Ltd, Cameron McCulloch and HWR Group director Scott O’Donnell, released the joint statement recently – confirming formation of the joint venture company, HWCP Management Ltd.

According to the New Zealand Companies Office the new company was registered on March 29, 2017 and has two directors, Cam McCulloch and Scott O’Donnell.

Records show there are 1400 shares, 701 shares (50.07%) held by HWR Property Limited and 699 shares (49.93%) held by Invercargill City Property Limited.

Formation of HWCP Management Ltd followed on from release of the Southland Regional Development Strategy (SoRDS) in November 2016, Mr McCulloch said.

“The purpose of this joint venture company is to look at potential future development in Invercargill’s CBD, in alignment with the SoRDS Strategy.”

Mr O’Donnell said the joint venture company is liaising with national developers and prospective tenants from outside Invercargill.

“Company representatives are limited with what we can disclose publicly because of commercial sensitivities and the need to maintain business confidentiality and a sound negotiating position,” he said.

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