Owned by Ian Cassels and Caitlin Taylor, Whats New is Wellington&39;s leading property development and investment company. Whats New has developed inner city apartments, commercial and retail space, and assembled a significant portfolio of high-yielding inner city assets in the process.
&194;“The Wellington property market had been undervalued since the economic crash in 1990 but now vacancy rates are at record low levels and there are great opportunities for people looking to invest in this market,&194;” said Ian Cassels, Managing Director, The Whats New Group. &194;“We feel very confident about the market and are constantly looking for opportunities to expand. The three floors in Radio New Zealand House are a great investment for us.&194;”
GE Commercial Finance, one of Australia and New Zealand&194;’s largest non-bank lenders, specialises in the mid-sized business market providing finance for a range of business purchases such as property, equipment and inventory as well as financing mergers and acquisitions and other business expansion activities. Its commercial proprerty business services the owner occupier and property investor markets. Typically able to lend more against the value of an asset, for longer, and on more flexible terms GE Commercial Finance enables clients like Whats New to use its capital for additional investments.
&194;“It is great having a finance business like GE Commercial Finance in Wellington,&194;” said Cassels. &194;“They understand the value of an asset and, in our case, they understand the sustainability of the property market whereas the banks can&194;’t see past the end of the lease term.
&194;“GE&194;’s attitude probably comes from being part of a worldwide operation which gives them a broader view of business activity and economic trends.&194;”
GE Commercial Finance has a unique offering in the commercial property market. It will lend up to 85 per cent of the value of the property and typically does not require directors to make personal guarantees or use their family homes as security.
"Our focus on the small-to-medium enterprise (SME) market enables us to expertly assess the risk and opportunities of a property deal and so loan more against the value of the asset," said Keith Rodwell, Managing Director, Property Finance, GE Commercial Finance, Australia/New Zealand.
"GE Commercial Finance offers more flexible loans over longer periods so that our clients can focus on growing their businesses," Rodwell said. "Our clients are generally owner-occupiers who want to free up capital to reinvest in their businesses, and investors who want to minimise their equity in the real estate purchase so they can invest more elsewhere."
Cassels said GE Commercial Finance&194;’s willingness to lend more against the value of the Wellington property was an important consideration.
&194;“The deal required us to use less of our capital than is typical in this market, allowing us to take advantage of the increasing opportunities in the Wellington property market,&194;” Cassels said.
About The Whats New Group
The Whats New Group of companies purchases inner-city buildings, and develops this space into apartments, car parks, commercial, and retail space. Its innovative and stylish developments have contributed to the city&194;’s restored heritage and architectural integrity.
Whats New Limited (a company of The Whats New Group) has sold nearly all of its apartment developments to owner-occupiers or investors. As Whats New Limited manages these apartments on behalf of the investors, it provides unique apartment accommodation options direct to local residents and visitors to the city.
The Whats New Group now focuses its business on the purchasing and leasing of inner-city commercial space. Its large portfolio of commercial, retail and car park space is leased and managed by its property management company, Enhance Property Management Limited.
Directors, Ian Cassels and Caitlin Taylor, founded The Whats New group in 1993. Whats New Limited is the leasing and management company for apartment accommodation. Enhance Property Management Limited is the leasing and management company for commercial, retail, and car park space.
For more information, contact: The Whats New Group, PO Box 11660, Wellington, New Zealand. Phone: + 64 4 494 9690. Fax: +64 4 494 9697. Email: info@whatsnew.co.nz. Web: http://www.whatsnew.co.nz.
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