Willis Bond & Co works in partnership with both public and private investors. We have built trusted relationships and these form the basis of our investment approach.
Since 2010 we have committed more than $200 million of capital into sixteen development opportunities, which together have an estimated end value of $1.56 billion. Our strong relationships and disciplined approach to investments have ensured that all projects have been successful.
For more information about our funds or investment opportunities with Willis Bond, please contact us.
Forming and maintaining strong public and private partnerships are a key part of our business.
We believe such relationships help deliver added value and create certainty for projects. We have established long-term relationships and alliances with entities in both the private and public sector including:
- A number of significant New Zealand land-owning entities, including:
- Panuku Development Auckland
- Housing New Zealand
- Hobsonville Land Company
- Wellington Waterfront
- Wellington City Council
- Funders, agents and valuers.
- Best-in-practice consultants, architects, engineers, builders and other experts including Athfield Architects, Architectus, LT McGuinness, Studio Pacific Architecture, Dunning Thornton Consultants, Hadyn & Rollett, Chapman Tripp, PwC, KPMG, Morrison Kent and many others.
Examples of projects that have involved public or private partnerships include: Sunderland at Hobsonville, Wynyard Central, 132 Halsey, Eight Lake Pupuke Drive, The PwC Centre, Clyde Quay Wharf, Chews Lane Precinct, Transpower House and Rosebank Road.
To date we have formed two investment funds, Willis Bond Capital Partners (Capital Partners) and Willis Bond Capital Partners II, which have raised $128 million and $100 million respectively. These funds have provided us with the agility to secure outstanding development projects.
Both funds are driven by a clear strategy to invest in real estate assets and opportunities with a focus on value-add or development potential, to which active hands-on management is applied through the Manager.
The strategy focuses on direct investment in property sectors including:
- Special development opportunities
Willis Bond & Co formed Willis Bond Capital Partners (Capital Partners) in 2009 to capitalise on attractive development and investment opportunities in New Zealand commercial real estate at a time of extreme distress in the market. The fund raised $128 million in 2010 and is now closed for new investment having been fully committed into 12 projects – five in Auckland and seven in Wellington.
Three large New Zealand government sponsored institutions invested in Capital Partners: the New Zealand Superannuation Fund (NZSF), the Government Superannuation Fund and Accident Compensation Corporation.
The fund and its projects are managed by Willis Bond and Company Management Limited. The directors of Capital Partners are Mark McGuinness, Wayne Silver, Roger Twose and David McGuinness, with Mark Verbiest and Graeme Horsley acting as independent directors.
Willis Bond Capital Partners II
Willis Bond Capital Partners II was formed in 2014, once it was apparent that Capital Partners was fully invested. The fund is targeted at value-add and development opportunities in New Zealand property. It had its final close in April 2014 having raised $100 million.
The fund is currently invested in two large scale projects in Auckland and it is anticipated that it will be fully invested and closed to new projects by late 2017.
Willis Bond Capital Partners III
With the impending full commitment of Willis Bond Capital Partners II, we expect to form Willis Bond Capital Partners III in late 2017.
In selecting and acquiring real estate investments, we take a private equity-type approach, which has served our business and investors well through different economic and market cycles.
Our strategy is underpinned by:
- Focusing on predominantly mixed-use development, where the objective is to create high-quality and vibrant environments.
- Rigorous analysis of options and opportunities for every site.
- A conservative approach with a focus on risk management and realistic outcomes within the context of the market cycle.
- Working with a wider team of leading experts in marketing, design, construction and project management.
- A well-regarded reputation for trust and delivery.
Independent Director Mark served as Group General Counsel of Telecom Corporation of New Zealand Ltd from November 2000 to June 2008, also being responsible for two business units. Prior to Telecom, he was Partner in a major New Zealand law firm for 15 years specialising in securities and competition law, mergers and acquisitions and general commercial and corporate law.
Mark is currently Chairman of Spark NZ Ltd, Transpower NZ and Willis Bond Capital Partners, a director of Freightways, ANZ Bank NZ, a member of the Treasury Commercial Operations Advisory Board and a consultant to Simpson Grierson. Mark is also a member of Treasury Expert Panel on Mixed Ownership Model (MOM). Mark received a Law degree from Victoria University.
Graeme is an independent property consultant and professional director with more than 40 year’s property valuation and consultancy experience, including 14 years with Ernst & Young New Zealand where he was a partner and national director of the real estate group.
Graeme is a Member of the New Zealand Order of Merit, a Life Fellow of the Property Institute of New Zealand, an Eminent Fellow of the Royal Institution of Chartered Surveyors and a Chartered Fellow of the Institute of Directors. In 2006 he was appointed a panel member of the Local Government Rates Inquiry; a ministerial inquiry setup to investigate the cost drivers and funding of local authority rating and between 2007 and 2015 he held an appointment as an additional member of the High Court.
He is now a professional director, chair of Vital Healthcare Properties Trust and an independent director of Willis Bond Capital Partners Ltd and Accessible Properties Limited. Between 2010 and 2015 he was an independent director of Precinct Properties New Zealand.
For more information about investment opportunities with Willis Bond, please contact us.