Business Central July 2021

32 | Manawatu - CEDA: Wallace Development Company New range caters to distinct market T T Karen Phelps REGIONAL DEVELOPMENT W allace Development Company Lim - ited is about to launch a series of luxury townhouses to the market in its popular Centennial Park development in Palmerston North. Regional manager Vanessa Thompson says the 130sqm pavilion-style duplex homes will offer two bedrooms and two ensuites catering to a distinct market. “We have recognised a need for couples and singles who want to downsize while maintaining a high standard of living and the convenience of ‘lock and leave’ to provide a flexible lifestyle. These homes will deliver that,” she says. Vanessa expects the townhouses will be launched to the market by the end of July and people are encouraged to register their interest early. There are also a few sections still available in stage two of Centennial Park and these are selling fast. The stage totals 49 sections ranging in size from 321sqm to over 900sqm addressing a wide range of purchaser require- ments. “Of course the nationwide property market is very robust currently yet our development was already selling strongly pre-Covid-19.” Location has been a strong selling point. Centennial Park is located near Massey Uni- versity (a major employer for the region) and has stunning views on all sides bordered by the Hokowhitu lagoon, Manawatu River and Manawatu Golf Club. This also led Wallace Development Com - pany to offer something unique to the region – small sections of under 450sqm. While this has been the norm in larger cities for some time it was relatively new for Palmerston North, says Vanessa, but has been greeted with enthusiasm. “Our company provided conceptual images and guided people through the process of building on a smaller site. Once people realised what they could achieve they really grasped the opportunity, particularly those that appreciated the amenities nearby, which meant they didn’t require a large section,” says Vanessa. Rangitane Iwi has been strongly involved in a consultative capacity during the project and a reserve in stage two will be vested to the Palmerston North City Council acknowledging the rich history of the local Iwi in this part of the city. Wallace Development Company has ca - pacity to offer further sections for sale. While stage three was initially earmarked for 2031, current demand means the company may look to bring some of this capacity forward. With its head office in Havelock North, Wallace Development Company was formed in 1982 by Jonathan Wallace who Vanessa says has unique foresight in being able to deliver projects such as Centennial Park to the market. The company has successfully completed more than 400 property projects throughout New Zealand, many of which are retained and managed by the company’s dedicated property management team, meaning it is now one of the leading commercial property development and investment companies in New Zealand. Vanessa says that the company’s point of difference is that Wallace Development Com - pany constantly strives to establish and devel - op long-term relationships with its suppliers and clients and uses its 39 years of experience to enhance all aspects of its business and its clients’ property journey. The majority of its projects are completed for known clients who are committed prior to the commencement of detailed design and construction. Wallace Development Company covers all aspects of the commercial property develop - ment process from sourcing sites and drafting plans to project management and delivering turnkey solutions for clients. Clients may choose to lease or purchase completed premises from Wallace Develop - ment Company. “This allows clients to free up capital for expansion while achieving the necessary changes required to their existing premises.” Other current projects include Quest Apart - ment Hotel (Hastings), Countdown (Hastings) and Quest Apartment Hotel (Mount Maunga - nui). Recently completed projects include Kmart (Napier), Powerco (Palmerston North), and, nearing completion, Torpedo7 in Napier. “We have recognised a need for couples and singles who want to downsize while maintaining a high standard of living and the convenience of ‘lock and leave’ to provide a flexible lifestyle.” HAVE YOU FOUND YOURSELF IN HOTOR COLD WATER LATELY? 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