IN BUSINESS: THE IAN CASSELS PROFILE

Ian Cassels doesn’t want to be called a property developer. Instead he calls himself a ‘property farmer’ now.
Ian Cassels

“Farmers are much more respected in New Zealand. Property developers have a vile name. Somehow we make all the money, get all the profit, have all the fun… but actually that couldn’t be further from the truth. We are a group driven by our mania, taking humungous risks, we sweat like crazy, and we are unsupported and underappreciated.”

“We’re not much different from farmers actually – we treat our properties like a farmer treats his sheep. We look after them, number them, call them by name, try to improve their performance, occasionally sell them, but always look at them with a larger vision in mind.”

Cassels became a ‘property farmer’ in 1990, and says he is fortunate to have lucked onto a company that supported his ‘idiot ideas’. “Most dreamers just gradually fade off into the back room and get drunk, so I’m very lucky. The time suits our brand of optimism and ability.” The Wellington Company at first grew faster and more furiously ‘than was probably good for us’ laughs Cassels. “We did make plenty of mistakes on the way!”

He calls himself a megalomaniac. “I used to get beaten at Monopoly by my older brother on a regular basis, so since then I’ve always wanted to be better.” And he sure has done a lot in 17 years. He identifies his success with Wellington’s success – “it’s all part of the same thing. And the great thing is that people listen to us a little bit now. Which is funny, because we’re saying the same thing we always have.”

The problem just people’s short-term thinking. “The whinging population will tell you they could be property developers but just ‘choose not to’. Bob Jones says you can’t be a developer forever – you’ll hit the wall. And there are lots of developers in serious strife at the moment which is tough – people may not realise it but we need the little buggers!”

© 2007 The Wellington Company Ltd

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