INDEPENDENT NEWS

Horncastle downsizes as retirement looms

Published: Thu 14 Sep 2017 08:14 PM
Horncastle downsizes as retirement looms
Horncastle Homes is taking a new business direction and exiting the volume home building business in both Auckland and Christchurch.
Owner Bill Horncastle is looking to slow down his business life and focus on other opportunities, niche building projects and life interests.
The company will continue to honour all its commitments and obligations.
Bill Horncastle, after 40 years in the industry, believes now is the right time to take a step back from running such a high energy business.
“I have been thinking about this for a considerable time and looking at every option.
“I have looked at selling the business or organising a management buyout but both options would probably mean I need to stay heavily involved for another three to five years which is just too long.
“I know many will think it strange that I just want to downsize and not realise any profit from the business, but for me it is the easiest option.
“My name is so intricately entwined with the business that options such as selling and management buyouts are not as easy as they seem.
“We have built this business on quality and we will continue to deliver a quality product and service until the end.
“With the business in such a strong financial position, now is considered the best time to downsize. The house construction market is cyclical and the last several years have been extremely buoyant. Our balance sheets are strong,” he said.
“We will continue to downsize but will still deliver the premium service we have based our business around,” he said.
Horncastle is totally committed to its sponsorship of the Horncastle Arena, which expires in two years.
“We took up this sponsorship of the Christchurch Horncastle Arena during post earthquakes times when Christchurch needed a place for people to meet and be entertained. We are proud of that investment,” he said.

Next in Business, Science, and Tech

NZ first-quarter current account turns to surplus
By: BusinessDesk
Foreign buyer ban gets smoother edges
By: BusinessDesk
Govt declines application to mine conservation land
By: New Zealand Government
Deer Milk wins Innovation Award at Fieldays
By: Pamu Farms
Record imports push current account deficit to 9-year high
By: Statistics New Zealand
Dairy product prices slip for seventh time in nine auctions
By: BusinessDesk
Foreign buyer screening law reported back
By: New Zealand Government
Overseas Investment Amendment a dog of a Bill
By: New Zealand National Party
Speaker rules out foreign buyer amendment
By: ACT New Zealand
REINZ welcomes softened stance on Overseas Investment Bill
By: REINZ
Cap gains would cut house prices, increase ownership - study
By: RNZ
The correct facts about tax and rental properties
By: NZ Property Investors Federation
Property prices chill in the Super City
By: Trade Me Limited
Residential property price increases expected
By: Colliers International
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media