| COMMERCIAL INVESTMENTS MANAGER: FRANCEEN REIHANA | |
|---|---|
 |
Franceen has extensive experience in business, property and management. Since 2000 Franceen has been a Business Studies Lecturer with a specific interest in Māori Development through Māori Entrepreneurial Innovation.
She also has experience in Accounting and Property Investment. |
Tūhoe Waikaremoana Commercial Property
The Trust owns the following commercial properties:
| Commercial Property | ||
|---|---|---|
| Address | Ownership | Use |
| Property 1: Papatoetoe | TWMTB 50% | Commercial multi-use |
| Property 2: Otahuhu | TWMTB 50% | Commercial Offices |
| Property 3: Papakura | TWMTB 50% | Commercial multi-use |
In combination the Auckland properties are valued at $3.9 million.
The Trust has owned these investments for more than 30 years in partnership with Ron Reeves. In regards to Papakura, Ron no longer owns this property. Ownership was transferred to his former wife, family members and Trustee Services Ltd.
| Property Description: PROPERTY 1 | |
|---|---|
| PAPATOETOE | |
| Current Tenants: | |
| Unit One: Pacific Merchants – Fruit/Vege/Supply Store | |
| Unit Two: Papatoetoe Meat Supplies – Butchery | |
| Unit Three: Salvation Army | |
| Property Description: PROPERTY 2 | |
|---|---|
| OTAHUHU | |
| Current Tenants: | |
| Unit One: Counties Manukau District Health Board (CMDHB) | |
| Property Description: PROPERTY 3 | |
|---|---|
| PAPAKURA | |
| Current Tenants: | |
| Unit One: Colour Plus – paint and supplies | |
| Unit Two: Jadell 02 & Associates Ltd – Electronic sales and repairs. | |
| Unit Three: Vacant | |
Performance
The Trust has owned these buildings for over 30 years and have served the Trust well bringing in additional income. Due to the age of the buildings maintenance is now a factor in keeping the buildings in good order. There have been a few tenancy changes in the past 12 months at the Great South Road property with Salvation Army taking up a lease in August 2009 and with the changeover of Kevin Haywards Butchery to Papatoetoe Meat Supplies Ltd in October 2009.
Lake Waikaremoana
The Trust receives income from leases with DOC and Genesis Energy. Tenure is shared between Wairoa Waikaremoana Māori Trust Board (148 shares) and the Tūhoe Waikaremoana Māori Trust Board (387 shares).
Department of Conservation
The area leased to DOC comprises 5210.3276 hectares. The land is zoned ‘Conservation and Reserve’ under the Wairoa District Council 2005 Operative Plan and is more commonly described as Te Urewera National Park. DOC is responsible for administering the Park through the provisions of an operative ‘Te Urewera National Park Management Plan’. The existing lease with DOC commenced in 1967 and expires in July 2017 with one right of renewal for a further term of 50 years.
Genesis Power Ltd
An easement right exists between TWMTB and Genesis whereby Genesis pay an annual licence fee. This commenced in 89/99 for a period of 100 years.
