eKourier July 2013

PROPERTY

Spotlight On Wanganui

History Wanganui is situated on the

previously owned by ‘Carters Timber and Building’. Carters is still here and operating but on a smaller scale. Site Features The Centre started its days as a purpose built single storey storage facility consisting of 114 units in 2005. Stage two was built in 2007, a two storey building of another 220 units, bringing the total number of units to 334, 3,442 square metres including 20 car parking spaces. Then 12 months later we had added another 15, one metre square lockers, removed some car park spaces that were causing problems for large vehicles getting around the site and converted several units, creating larger spaces at ground level and drive up. Wanganui has had a pretty good year, despite our recent Occupancy being low. Current occupancy is 77%, and by units 81%. Income growth at 18% and we achieved our income target for the year. Actual Yield 9.7%. Our rent increases are up to date.

Challenges and areas of opportunity for our centre would be to improve merchandise sales, other income and insurance targets. Our storers enjoy our friendly approach, they appreciate the services that are provided, the security and the cleanliness. We definitely offer more to the storer than other sites around town. The Team The Team at Wanganui consists of Karina Gardiner (below right), Centre Manger and new Team Member Katarina Bird (left), Assistant Manager who joined us in May this year. Team Wanganui

Whanganui River, West Coast of the North Island in the South Taranaki Bite, approximately half way between New Plymouth and Wellington where we are 10 minutes from anywhere and 15 minutes to the rest of the world. Population of the Wanganui district is about 42,000. We have the fifth most equable climate in the world, so the meteorologists tell us. For a town of its size, our sporting facilities are the envy of many with the International Masters Games being held here bi-annually. Our mountains 1 ½ hours away for Skiing and Tramping and top Surfing spot 10 minute drive from the city centre. The area is supported by a farming community of dairy, cattle and sheep, processing plants and product producing factories and industries associated.

The Wanganui site was built on land

Kennards Kourier July 2013

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