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DEVELOPMENT » Oakwood Properties
Business South
Oakwood Properties’ portfolio includes heritage buildings along Dunedin’s George Street that Oakwood is keen to preserve into the future.
Future focus behind property portfolio Kim Newth Oakwood Properties Limited is taking the long term view as it continues to strengthen and grow its solid South Island property portfolio. The portfolio includes heritage buildings along Dunedin’s George Street that Oakwood is keen to preserve into the future. It has adopted a highly proactive approach to earthquake strengthening, upgrading the Robert Burns Hotel, Johnson’s Fish Shop and other heritage treasures. “To go through all our stock is probably a fifteen year project,” says the company’s executive director David Marsh. “In Dunedin, we’re slowly working through the main street, strapping walls and putting in structural steel to make the buildings a lot stronger. “It’s a disruptive process that involves having to relocate tenants but after Kaikoura we know this earthquake threat won’t be going away anytime soon. We are committed to improving these buildings.” In Christchurch, it recently upgraded the old Marist Rugby Club building in Mandeville St to 75 per cent of the new building standard, before converting it into commercial office space. It has also upgraded and strengthened an 8000sqm
warehouse and adjoining premises on Blenheim Rd. In 2014, Oakwood Properties acquired a site on Christchurch’s Moorhouse Ave for a new Blackwells Motors dealership. Blackwells had earlier been forced out of the central city by the Christchurch earthquakes. So, it was a real milestone for both Oakwood and Blackwells when the dealership finally returned to the central city last August. Oakwood is working to create an automotive hub in central Christchurch, with Holden and Mazda showrooms now also up and running in Montreal St.“We have made a large investment into car dealerships in Christchurch. It is a big commitment but we have got confidence in the CBD area.” In another major contribution to the city’s recovery, Oakwood invested to rebuild the Carlton Hotel after the former historic building was severely quake damaged and then demolished in 2011. The new building is rated at 120 per cent of the new building standard. Oakwood Properties’ diverse portfolio extends to Invercargill, where it recently completed a seismic upgrade of Countdown’s Waikiwi supermarket building. It is also investing in Queenstown, having purchased five shops in Five Mile, Queenstown’s newest shopping centre.
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