Body Works
2 Arbor Place, Greytown - Bodyworks Panel & Paint
6 Arbor Place, Greytown - City Care
14 Arbor Place, Greytown - The Olive Press Ltd
213-219 Main Street, Greytown - Farmlands
246 Main Street, Greytown - Stihl Shop
175-177 Main Street Greytown
124 Main Street Greytown
64 Main Street, Greytown - Police Station
64A Main Street, Greytown - SWDC & CDC Greytown Building Services Office
64B Main Street, Greytown - Shadow Gallery
10 McMaster Street, Greytown
55-59 East Street, Greytown
123 East Street, Greytown
215 Main Street, Pahiatua - Farmlands

SOLD - 30 March 2022 for $1.5 million
This money will be invested in managed funds with Craigs Investment Partners

34 Bedford Avenue, Whanganui - Downer Whanganui
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Shadow
Composition

The Trust owns property (land with buildings on it) and land only for lease.  Property as at 31 March 2022

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 Downers, 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 2022 are $11,010,000 commercial properties (land and buildings) and $6,257,400 community properties (land only).  See our website for more information on where these properties are located and who they are tenanted by.

Location

For historical reasons, as might be expected, the majority of the property and land we own is located in Greytown.  However, amendments in recent times to our governing legislation have allowed us to invest in property elsewhere in New Zealand.

Having taken advantage of these legislative amendments, we also own property in Whanganui.

 

 

 

Managed Funds

Since September 2021 when Trustees resolved to divest some of its assets into managed funds, a total of $5.9 million has been invested with Craigs Investment Partners.  This money has accumulated from matured term deposits derived from the sale of property and retained earnings, and the recent sale of the Pahiatua Farmlands building.

Trustees have resolved to sell one further property, resulting in a portfolio split between property and managed funds that is more balanced and risk-averse.