eKourier April 2014

Wellington, an Exciting Opportunity for KSS FEATURES B y now, you will all be familiar with the latest acquisition in NZ with KSS Wellington. Acquired after a quick for strategy and planning. Ultimately we believe the reasons why this site had underperformed and went into receiver- ship, was not having the right unit mix, pricing and spending a colossal amount of money trying to convert a building into something that would only be seen in a mirage. successful Tender and subsequent negotiation just before Christmas, it then became reality with possession on January 22nd.

This site currently has a bias for small unit sizes less than 10 metres square which can look great on paper but that is not much use if you over supply too much of one product. So we see opportu- nities to expand and increase the unit mix into more traditional sizes up to 24 metres square and also incorporate

the Enterprise Space concept with larger warehouse unit sizing. We have an excited Team with Sue Solly leading the way and Amanda Thompson and Larry Incledon joining the Team. I look forward to seeing the success of this site develop over the next couple of months.

A fresh Team, opportunities with unit mix and pricing, expansion, repairs and maintenance, you name it, this site definitely needs some love and will be a good example of a genuine turnaround project. Located on the main arterial road into the Wellington CBD and conveni- ently close to

Stop the press! As we go to print, we have

We have begun implementing opportuni- ties with Dynamic Pricing and embarked on some unit conversions to make “ The recent painting in the KSS colour scheme has changed the landscape dramatically, there is no doubt that Kennards has arrived in Wellington. ” better use of the vacancy. Starting with the clearing out of a major part of the end building that has been left empty since the receivership with the previous operator.

been able to introduce Wine Storage to Wellington. A climate controlled area was constructed but not finished off completely. We have created a stable environment and converted some spaces to wine unit types. There is great opportunity in this market with the other competitors in the area currently full and supplying unhelpful long term contracts. Andrew Kirkham NZ Operations Manager

Westpac Stadium, this site has great roadside appeal and would be consid- ered the best location in Wellington. The recent painting in the KSS colour scheme has changed the landscape dramatically, there is no doubt that Kennards has arrived in Wellington! In the ten weeks since acquisition, we have managed to fit out a new office and box shop without any interruption to day to day business and last week saw the completion of outside painting in time for the main signage to be installed this week. Rebranding a site of this size is not for the faint hearted. Frustration with tradesman and their speed of work is challenging but we got there and the quality of work is appreciated. I have learnt about being two steps ahead in preparation through careful monitoring. But that is the easy work, now the time

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Kennards Kourier April 2014