Jonathan Wallace bought his first property at just 21, and has gone on to create one of the North Island’s biggest property development companies.
Headquartered in the small Hawke’s Bay town of Havelock North, where it began in 1982, the Wallace Development Company has expanded throughout the North Island. It now has offices in Havelock North, Palmerston North, Auckland and Tauranga.
WDC is still heavily focused on Hawkes Bay. Most recently it bought one of Napier’s most notable landmarks – the five-story Vero House on Tennyson Street – with a view to upgrading its look and repurposing it for retail, office and apartment space. It has also begun construction on a Kmart for Napier.
The company also has a host of projects on the go throughout the country. Among these are the Department of Corrections in Porirua and the Centennial Drive subdivision in Palmerston North, formerly the site of the Manawatu Teachers’ College and Massey University campus.
Recent projects include Department of Corrections buildings in Palmerston North and Levin, ASB Bank buildings in Hamilton and Whangarei and Holiday Records on Auckland CBD’s Wellesley St.
2018: $140 million