Titan1 and Viranda
The Directors of Palmerston North based Titan1 and Takapuna based Viranda Property Network are pleased to announce that
Titan1 has acquired a joint venture interest in Viranda. This signals a move by both companies to enhance their
respective property investment services to clients in New Zealand and overseas.
Viranda was formed in the mid 1980s by North Shore barrister Andrew Guest. It offers commercial property investment
services to professional clients, largely drawn from the medical, airline and business professions, and has a portfolio
of over 350 properties with a value in excess of $250 million. Titan1 is a substantial property investment company
founded by John Pendergast and Richard Chisholm. Titan1’s investment clients are most often professional, corporate
investors seeking to partner Titan1 in a diverse range of investment projects.
“Viranda has been successful because of its unwavering commitment to meet client requirements and the continuous
emphasis placed on maintaining the necessary investment standards” says Viranda’s Andrew Guest. John Pendergast assures
investors that this philosophy will continue. “We will look to leverage the synergies that exist between the two very
complementary client bases. We now have a significant number of corporate and professional investors as Titan1 clients,
as well as a large pool of private investors who are working with Viranda. With Titan1’s networks so finely developed
and deeply entrenched, we can now present property investment projects that are specifically tailored to satisfy the
requirements of both sectors of the investment market, and we can look after our own investor base.”
The company will continue to trade as Viranda Property Network with Andrew Guest remaining full time as Managing
Director, focusing on the Client Investment activities of the Group. A substantially enlarged senior management team is
currently being appointed to work alongside Andrew and to take responsibility for optimising investment returns and
client service delivery. The first appointment to this team is Jeff Moore who will be the company’s General Manager,
Finance and Operations. Jeff is a chartered accountant and most recently was Network Performance Manager for Air New
Zealand.
The Directors expect several more significant announcements to be made over the forthcoming months with regards to
service delivery, minimum investment return criteria, performance guarantees and a range of new property based
investment products to be available alongside the existing mix of net leased commercial buildings.
END