A new commercial property and investment arm
established by the WDC is hoping to replicate the success of Far North Holdings
Limited, which has accumulated total assets of $211 million and produced a net
profit of $13 million last year, $5 million of which was paid out as a dividend
to the council to offset rate increases. The council says Whangārei District
Holdings Ltd (WDHL) is to
“manage the development of council-owned property
that has commercial or strategic opportunities.”
