PHOTO: ROBERT KITCHIN/STUFF Ian Cassels’ The Wellington Company has a $30 million housing development and chapel restoration underway in Island Bay, the Erskine development.
Wellington developer Ian Cassels has bought more than 10 properties in the capital in the past year and is mulling launching a property fund for investors which might eventually list on the New Zealand sharemarket.
While his fight to develop the $500m Shelly Bay project has hogged the headlines, Cassels has several other balls in the air.
Cassels said his company had been buying a lot of property. The team were looking at both commercial and residential properties. He had spent about $130 million in the past year on commercial property.
Recently it had bought the Wellington Conference Centre at 114 The Terrace, the four-story Trojan House, near Lukes Lane off Taranaki Street, and a 16-storey office tower at 186 Willis Street which was formerly known as HP Tower.
He expects to develop Trojan House into residential property while the office tower would remain a commercial office building as would the Wellington Conference Centre on The Terrace.
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