R&N Traders Post to be Cleared 

Demolition of the R&N Traders building in Richmond Quay, Greymouth is scheduled to commence on 19 November 2014.

Contractor Henry Adams Contracting Ltd was the successful tenderer for the demolition of the R&N Traders building and the old Richmond Hotel in Greymouth.

Timing for the demolition of the old Richmond Hotel is still to be confirmed. DWC is working with the tenant to plan the timing of demolition and re-establishment of facilities on this site.

(17 November 2014)



DWC Secures Greymouth Property

 Development West Coast has been considering opportunities to participate in the rejuvenation of the Greymouth CBD and has purchased freehold property on Richmond Quay, Greymouth.

DWC Chair John Sturgeon says these sites would create an opportunity for a staged development which could be an anchor project for the Greymouth CBD while also opening up further opportunities to revitalise the township.

DWC Chief Executive Joseph Thomas says while the project is in the early stages of development it could be a very exciting opportunity for the West Coast region.

(29 September 2014)



DWC Provides Sound Base to Generate Economic Benefits

Development West Coast's annual report for the year ended 31 March 2014 shows DWC had a sound financial year, generating total income of $8.6m and distributing $3m in community grants and projects.

DWC Chairman John Sturgeon and CEO Joseph Thomas released the annual report at a public meeting in Greymouth on Tuesday 26 August 2014.  DWC ended the financial year with assets of $121m. DWC made a profit before community distributions of $6.2m, invested $3m in community distributions and projects, and reported a net surplus of $3.3m and total comprehensive income of $1.3m.

Mr Sturgeon says despite a tough year for the West Coast DWC's financial result was pleasing, and its balance sheet continues to provide a sound base from which to pursue the objects of the Trust Deed.

"The DWC team has worked with a number of West Coast businesses throughout the year, assisting them with survival, turnaround or growth strategies.  It will take time to address some of the challenges the region faces and while DWC doesn't have all the resources and answers, it looks forward to being part of a coordinated effort by all key stakeholders to support a recovery strategy for the region," he says.

"DWC's assets are being managed prudently to provide income with which to fund operations and distributions whilst also providing, where possible, for inflation proofing and capital growth," he says.

Mr Thomas says looking forward DWC will achieve greater outcomes by expanding and building relationships with key strategic stakeholders, and working closely with West Coast businesses, local and central government and the community.

"True sustainable regional development requires sound planning, investment and resourcing, and it will take time to realise long-term benefits and growth.  I believe the West Coast has an exciting future ahead and I am pleased to see a genuine willingness from key strategic partners to collaborate as a region and play our respective roles in shaping a sustainable future for the West Coast," he says.

Mr Thomas says the key to the West Coast's success will be to pursue opportunities to diversify sectors & industries, add value, be innovative and embrace technology.  This will require leadership, new thinking and a different approach.

(26 August 2014)