• Porirua City Council has labelled a property sale in its CBD a successful investment – despite losing thousands on the deal.

In February, the council announced the former NZ Post building in Serlby Place has been sold for $400,000 to developer Ian Cassel’s The Wellington Company, which will convert it into rental apartments.

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PHOTO: VIRGINIA FALLON/FAIRFAX NZ
The former NZ Post building in Serlby Place, Porirua has been sold to The Wellington Company – owned by Ian Cassels – and will be converted into residential apartments.