eKourier Jan 2016

Wellington on the Home Straight FEATURES

had taken some “short cuts” that needed extra work to get the final sign off. Building three was an interesting experience, the connecting building was a lonely addition to the site, essentially left unloved and full of years of rubbish and anything that needed to be put away out of sight. This included old personal effects from past delinquents with no reference, so we had no way of recollecting much of anything. I remember walking through for the first time and thinking ‘crikey’ how are we ever going to sort this out. With a bit of planning and sheer determination we saw the start of the earthquake strengthening project in April last year.

THE STORE AWAKENS

After five months with the building full of tradies, holes everywhere, noise, dust and machinery going full steam, we now had a building stable enough to meet the Building Code and has enabled the start of unit fitout. First up was Enterprise Spaces on the ground floor with access via one of the busiest main roads in Wellington.

T ime for another update as the second anniversary passes since the acquisition of our Wellington centre. I can confirm completion of significant remedial compliance works to building one and two and earthquake strengthening to building three.

Final completion of the unit fitout for all levels will be in the first quarter of 2016.

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We knew there was work to do but not to the scale we experienced.

With works complete we are finally able to add much needed larger units to the ground floor, then fit out the remaining floors with a view to improving the unit mix and increasing the profitability of this asset. The last 24 months have seen us overcome many challenges with building compliance and putting things right. We knew there was work to do but not to the scale we experienced. It is amazing how the smallest things all connected to bigger challenges. We relied on what we thought had been done, only to find with Council inspections that the previous owner

‘ Credit to the Team - Stephanie, Jacque and Larry who have ensured it was business as usual around the centre during the construction period. At the time of writing, the Team had increased occupancy to 86% and recorded some good income growth so the extra new units will be a welcome addition and will ensure we maintain our position as the leading storage provider in the Wellington CBD. Andrew Kirkham Operations Manager NZ

https://youtu.be/crJFyva8ZO0

15 Kennards Kourier January 2016