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Capital Properties boss lured north

By Christine Nikiel

Friday 5th September 2003

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Wellington-based Capital Properties will be hunting for a new head man as longstanding chief executive Nick Wevers takes up a new position in Auckland.

After 12 years with Capital Properties, Mr Wevers (48) will move north to take up a position with a private investment firm.

The former NZI and Marac executive won't say what the new job will be, just that it would be "exciting" and in a non-competing sector of the property market.

"I'm moving because I've had a good offer. I've had other approaches over the years but this was the opportunity that suited me," he said.

He said the decision to leave Capital Properties was a difficult one because the company was in such good health, with a portfolio spread of 60% Wellington stock and 40% Auckland.

Mr Wevers joined the company in 1991, when it was still Government Property Services, and led it through the transition to Capital Properties. He saw it through its 1998 listing, the takeover of Auckland's Shortland Properties in 1999 and the recent rights issue.

The former Property Council president takes up his new position on February 1 next year.

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