HWCP Management Limited directors Scott O’Donnell and Lindsay Thomas are pleased to announce the company’s purchase of a portfolio of strategic CBD properties.
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.
The portfolio includes multiple properties between Don and Esk Streets, and Kelvin and Dee Streets, which were previously owned by an overseas investor.
Mr O’Donnell said the exciting purchase was a key point to the development of the CBD, and was in line with the company’s goals of aligning with SoRDS strategies when the company was founded earlier this year.
“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 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.”