There’s a beautiful old church as you come into Devonport, Auckland. It was formerly the local Presbyterian church.
When numbers died away, it was purchased by a grandmaster to be the national chess centre.
As I write, it is on sale again — a recent sale to a childcare developer having fallen through due to heritage-planning issues.
Former St Paul’s Church, Devonport. Source: Devonport Heritage
The developer looking to buy the former St Paul’s Church, in fact, has success developing a similar such historic church for the purpose of the day. So it was a surprise that the sale fell through due to heritage concerns. But this, of course, is Devonport.
I mention this because, today, we’re looking at our top-performing stock. Returning over 148% since March last year.
It is also a childcare property developer and owner.
This Company is one of my largest holdings, and we buy it for our wholesale clients at Vistafolio.
It has the size and scale to custom-develop many of its childcare properties. Though it has also taken on many existing facilities.
In fact, it is one of the largest owners of childcare property (land and buildings) in Australia…
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Simon is the Chief Executive Officer and Publisher at Wealth Morning. He has been investing in the markets since he was 17. He recently spent a couple of years working in the hedge-fund industry in Europe. Before this, he owned an award-winning professional-services business and online-learning company in Auckland for 20 years. He has completed the Certificate in Discretionary Investment Management from the Personal Finance Society (UK), has written a bestselling book, and manages global share portfolios.