| 15 T T Karen Phelps Company eyes CBD development Wallace Development Company has also been active in the residential sector, completing stage two of its Centennial Park development. CEDA: Wallace Development Company REGIONAL DEVELOPMENT Serv c ng the Manawatu for over 68 years - 1955-2023 Pleased to be head contractor w th Wallace Development Earthworks Driveways Roading Tree Removal Site Excavation Car Parks Section Clearing Farm Races Agricultural & Rural Needs Demolition Washed Sand Base Course Pea Metal Builders Mix River Run Washed Stone - all grades Foundation Fill Top Soil Silt DELIVERED DIRECT FROM OUR QUARRY LONG REACH EXCAVATION David Eales 0274 441 392 Fred Hoult 0272 301 335 Off ce 06 355 5022 nfo@houltcontractorsconz 25 Bennett St PO Box 4268 Palmerston North www.houltcontractors.co.nz 021 944 144 matt@totallandscapes.co.nz www.totallandscapes.co.nz Residential and Commercial Landscape Design, Construction and Maintenance Wallace Development Company is on the cusp of a significant project that will invigorate the Palmerston North CBD. The company owns several historic buildings stretching from 113-120 The Square, which need to be seismically upgraded, and is seeking anchor tenants to trigger a major redevelopment of the area. Company regional manager Vanessa Thompson says it is currently in discussions with interested parties. “The aim is to keep the character look of the buildings, strengthening the facades and retaining those, then building new behind them. “This will result in a unique premise lease opportunity as well as preserve the character look of this part of the CBD,” she says. Wallace Development Company is aiming to work in with Palmerston North City Council regarding the beautification of this strip and streetscaping to ensure a really positive outcome for the CBD, she says. The company has also been active in the residential sector, completing stage two of its Centennial Park development. Vanessa says it was a big milestone, delivering 49 lots to the market. Sections range in size from 321sqm to over 900sqm addressing a wide range of purchaser requirements and there are still a few opportunities available. 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. Vanessa says location has been a strong selling point. Centennial Park is located near Massey University (a major employer for the region) and has stunning views on all sides bordered by the Hokowhitu lagoon, Manawatu River and Manawatu Golf Club. Wallace Development Company is currently considering the commencement of stage 3a, which would deliver 20 further residential sections with lagoon views. To make way for these there have been a number of demolitions of commercial buildings in the centre hub with more planned over the next 18 months. Five of the large buildings on the eastern side of the development will remain due to long-term lease commitments. Wallace Development Company, founded in 1982 by Jonathan Wallace and headquartered in Havelock North, has completed over 400 successful property projects across New Zealand. The company’s dedicated property management team manages and retains many of these projects, positioning it as a leading commercial property development and investment company in the country. The company’s commitment to building long-term relationships with suppliers and clients is what sets it apart, says Vanessa. Most of its projects are completed for known clients who are committed prior to the commencement of detailed design and construction. The company covers all aspects of commercial property development, from site sourcing and plan drafting to project management and turnkey solutions. Clients may opt to lease or purchase completed premises from Wallace Development Company, freeing up capital for expansion while making necessary changes to their existing premises creating a win-win. Vanessa says the company thrives on adding value to the region through delivering high quality development outcomes. “This will result in a unique premise lease opportunity as well as preserve the character look of this part of the CBD.”
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