The Trust owns property (land and buildings) and community land for lease. Property as at 31 March 2024

Property is leased to commercial tenants under market rent terms for periods varying typically from 1 to 5 years.  Tenants include national brand companies like Farmlands and Stihl as well as a range of local businesses.

Resulting from past decisions the bulk of our land holdings is leased in perpetuity to organisations who have constructed buildings on it for community use or benefit.  Ownership of the buildings in these instances does not rest with the Trust.

Tenants include Greytown Rugby Club, Greytown Bowling Club, Royal NZ Plunket Trust and Cobblestones Museum Trust.  Rents from this type of tenancy typically provide a lower return on asset value than for property.

The Trust’s current property portfolio valuations based on fair values as at 31 March 2024 are $7,685,000 commercial properties (land and buildings) and $4,830,000 community properties (land only).