Willis Bond & Co

1. Name: Willis Bond and Company Limited (often trading simply as Willis Bond & Co).

2. NZBN / Company No.: New Zealand Business Number 9429033259987; Company #1963401.

3. Status: Active New Zealand limited company, registered 10 July 2007. (This entity replaced an earlier 1989–2006 company of the same name.)

4. Founding: Established in 1988, co-founded by Mark McGuinness (initial formal incorporation in 1989).

5. Legal Form: Privately held company (Ltd), licensed real estate agent under the Real Estate Agents Act 2008.

6. Headquarters: Wellington – Level 2, Free Ambulance Building, 5 Cable Street, Wellington 6011.

7. Other Offices: Auckland – Level 4, 12 Viaduct Harbour Ave, Auckland; Tauranga – Level 2, 53 Spring Street, Tauranga.

8. Key Personnel: Mark Daniel McGuinness (Executive Chairman and co-founder); David McGuinness (Managing Director – Development); Wayne Silver (Director and Chief Financial Officer). These three lead a team of around 20–30 development, finance and investment professionals across NZ.

9. Directors: Mark McGuinness (appointed 10 Jul 2007) and Wayne Silver (appointed 23 Sep 2010 as alternate director for M. McGuinness). (No other listed directors; David McGuinness and others serve in management but are not registered board directors.)

10. Ownership: 100% privately owned by the McGuinness family. Mark McGuinness and Wendy McGuinness are the ultimate beneficial owners, holding equal 50% stakes.

11. Holding Structure: Ownership is held via family trusts/companies (Mackford Holdings No.1 & No.2 Limited and MCG Business Trustee Limited) in which Mark and Wendy McGuinness each hold 50% interests. This structure effectively makes Willis Bond a family-controlled enterprise.

12. Industry Sector: Real estate property development and investment (with a focus on urban development projects and property funds).

13. Core Activities: Specialises in large-scale property development (commercial, residential and mixed-use projects), project management, and real estate investment/funds management. The company often enters public-private development partnerships with government entities to deliver property solutions.

14. Licences & Registrations: Licensed under the Real Estate Agents Authority (RAAA) since 2009, permitting real estate agency activities. Also registered with NZ Companies Office and compliant with financial reporting as required for its funds. (No evidence of lobbying registration – NZ has no mandatory lobbyist register.)

15. Major Projects – Wellington: Willis Bond has developed many of Wellington’s most significant recent projects. Notable examples include the Chews Lane Precinct (CBD mixed-use redevelopment), Clyde Quay Wharf luxury apartments, the PwC Centre on the waterfront, the Bell Gully Building, Victoria Lane Apartments (Wellington’s first base-isolated apartment building), and the new Tākina Wellington Convention and Exhibition Centre (opened 2023). These projects have dramatically shaped Wellington’s CBD and waterfront.

16. Major Projects – Auckland: Willis Bond expanded to Auckland in the 2010s, securing several prime Auckland Council redevelopment opportunities. Key Auckland projects include the Wynyard Quarter apartments (e.g. Wynyard Central and 30 Madden/132 Halsey developments on the waterfront) built in partnership with Panuku/Auckland Council, and the Catalina Bay waterfront precinct at Hobsonville Point (a large mixed-use regeneration of a former air force base). By 2019, Willis Bond had become a “$1 billion-plus force in Auckland” with a substantial project pipeline in the city.

17. Major Projects – Other Regions: The company has also undertaken projects outside the main centres. In Tauranga, Willis Bond delivered the new 90 Devonport Road office development (the city’s largest mass-timber office building, completed 2025) as part of a Civic Precinct revitalisation. It has signaled interest in development opportunities in other high-growth regions of New Zealand, often through partnerships with local authorities.

18. Public-Sector Partnerships: Willis Bond frequently partners with government agencies and councils. Current and recent public-sector partners include Wellington City Council, Tauranga City Council, Kāinga Ora – Homes and Communities (Housing NZ), KiwiRail, the Ministry of Business, Innovation and Employment (MBIE), and Eke Panuku Development Auckland (Auckland Council’s development arm). These partnerships often involve Willis Bond as the selected development partner for publicly owned sites or joint ventures, reflecting the firm’s deep ties to local and central government projects.

19. Development Funds: Since 2009, Willis Bond has launched four closed-end property development investment funds – Willis Bond Capital Partners I, II, III, IV – to finance its projects. Together these funds raised approximately NZ$533 million in equity capital from investors, which has been invested into 27 development projects (with an estimated end-value over $2.5 billion) across Wellington, Auckland and other cities. Each fund is structured as a limited partnership/managed fund, with Willis Bond & Co as the manager/general partner.

20. Property Income Fund: In 2020 the company established the Willis Bond Property Income Fund to acquire and hold completed properties as long-term investments. This open-ended fund raised $250 million at inception (with capacity up to $500m). It marked Willis Bond’s expansion into property asset management, complementing its development funds.

21. Major Investors: Willis Bond’s investor base includes some of New Zealand’s largest financial institutions. ACC (the state accident compensation fund), ANZ Investments, and Generate KiwiSaver were cornerstone investors in the 2020 Property Income Fund. Earlier development funds attracted capital from the NZ Super Fund (the sovereign wealth fund invested in Willis Bond’s 2010 fund), as well as private high-net-worth investors and family offices. The backing of these institutional investors reflects Willis Bond’s influence and credibility in NZ’s investment community.

22. Scale of Operations: Willis Bond has approximately $2.5 billion in total project value completed or underway. It manages assets and developments across New Zealand’s main centres. The firm remains relatively lean in staff size – an estimated 50 or fewer employees – relying on outsourced contractors and partner firms (like construction company LT McGuinness) to deliver projects. Willis Bond’s projects have won multiple industry awards, underlining its prominent market position.

23. Awards & Recognition: Willis Bond developments have received numerous awards. For example, Wellington’s PwC Centre (a Willis Bond project) won the Supreme Award at the 2019 NZ Commercial Project Awards. The company itself was honored with multiple awards at the Property Council New Zealand’s 2024 Property Industry Awards. These accolades reflect Willis Bond’s reputation for high-quality projects, although they also bolster the company’s influence and profile in industry and political circles.

24. Associated Entities: In addition to its core development companies, Willis Bond’s principals are connected to related entities. Willis Bond & Company Management Limited serves as a management and shareholding vehicle within the group. A separate but related firm, L.T. McGuinness Ltd, is a construction company owned by Mark McGuinness’s extended family and has been the main building contractor on many Willis Bond projects (though L.T. McGuinness is not a subsidiary, the long-term collaboration represents a closely allied entity). Willis Bond also controls various project-specific subsidiaries or joint venture companies for individual developments (standard practice for liability and financing purposes).

25. Family Trusts and Philanthropy: The McGuinness family uses a charitable trust structure in parallel to the business. The McGuinness Foundation Trust, chaired by Mark and Wendy McGuinness, owns the Wellington-based think tank McGuinness Institute (originally Sustainable Future Institute). Willis Bond & Co (the company) has provided significant financial support to this Institute – including donations of $785,000 in 2020, and covering about $80k of annual office rent and outgoings as in-kind support. (Mark McGuinness is Chairman of Willis Bond and Wendy McGuinness is the Institute’s founder; they are siblings.) This philanthropy is notable in the context of Willis Bond’s public profile.

26. Funding of McGuinness Institute: Mark and Wendy McGuinness explicitly fund the McGuinness Institute “through the McGuinness Foundation Trust” as primary patrons. The Institute, in turn, aims to influence long-term public policy in New Zealand. This relationship, while philanthropic, links the success of Willis Bond & Co (and the wealth it generates) with a policy-oriented organisation, potentially extending the company’s influence into the intellectual and political domain.

27. Political Engagements: Willis Bond’s leadership has periodically engaged directly in political or policy processes. Notably, in 2024 Mark McGuinness was appointed to Wellington Mayor Tory Whanau’s Mayoral Business Advisory Group as one of a handful of “high-flyer” business leaders providing policy advice. (He later resigned from the group in late 2024, citing business priorities.) Company executives also make submissions on public policy (e.g. Willis Bond submitted on Wellington’s District Plan hearings in 2023 and on MBIE’s building safety consultations) and occasionally pen opinion pieces in the media (e.g. Mark McGuinness advocating pro-development leasehold land policies). These activities illustrate the firm’s hands-on approach to influencing its regulatory environment.

28. Lobbying & Advocacy: No registered lobbyists are directly affiliated with Willis Bond (NZ does not have mandatory lobbyist registration, and the company tends to engage decision-makers through industry forums or personal networks). However, Willis Bond is a member of industry bodies like the Property Council NZ and often works with public relations consultants on project consultations. The company’s advocacy is typically conducted via formal submission processes, private meetings with officials (leveraging its partnerships), and thought leadership in forums or media. Its close ties with prominent lobbyists and influencers (for example, former government staffer Wayne Eagleson’s firm has been linked informally to infrastructure advocacy in Wellington) are noted anecdotally, but not disclosed officially.

29. Controversies: Willis Bond’s dominance in winning public development contracts – especially in Wellington – has sparked concerns of regulatory capture and conflicts of interest. Local watchdog groups (e.g. Waterfront Watch, Civic Trust) have frequently objected that Willis Bond enjoys a “cosy” relationship with Wellington City Council, citing instances such as exclusive rights being granted for waterfront sites without open tender, council decisions made in closed sessions, and Willis Bond proposals exceeding planning limits with council support. Critics argue that public assets (land, air rights, etc.) have been effectively ceded to Willis Bond on favorable terms, to the detriment of transparency and public interest. (Willis Bond responds that its projects are high quality and subject to due process, and that delays or restrictions often stem from onerous regulations rather than any undue favoritism.) These controversies underscore why Willis Bond is closely scrutinised in any discussion of private influence over public urban development in New Zealand.

Sources:

1. Willis Bond and Company Limited – Company Profile, NZWAO Business Directory (nzwao.com), https://www.nzwao.com/companies/willis-bond-and-company-limited-2/:contentReference[oaicite:150]{index=150}:contentReference[oaicite:151]{index=151}.

2. NZ Companies Office Register – Willis Bond and Company Ltd, NZWAO (via bizdatabase), https://www.nzwao.com/companies/willis-bond-and-company-limited-2/:contentReference[oaicite:152]{index=152}:contentReference[oaicite:153]{index=153}.

3. New Zealand Companies Register (Historical) – Willis Bond & Co, NZLB Business,

https://www.nzlbusiness.com

1. (Company No. 447677 removed).

2. Property Income Fund – Team (Mark McGuinness profile), Willis Bond Property Income Fund website, https://www.propertyincomefund.co.nz/team/:contentReference[oaicite:155]{index=155}:contentReference[oaicite:156]{index=156}.

3. McGuinness Institute – Funding and Relationship with Willis Bond, McGuinness Institute (History page), https://www.mcguinnessinstitute.org/about-us/history/:contentReference[oaicite:157]{index=157}:contentReference[oaicite:158]{index=158}.

4. Willis Bond – About Us (Partnerships), Willis Bond & Co official site, https://www.willisbond.co.nz/about-us:contentReference[oaicite:159]{index=159}.

5. Willis Bond – About Us (Projects and Awards), Willis Bond & Co official site, https://www.willisbond.co.nz/about-us:contentReference[oaicite:160]{index=160}:contentReference[oaicite:161]{index=161}.

6. Willis Bond – Contact (Office Addresses), Willis Bond & Co site, https://www.willisbond.co.nz/about-us:contentReference[oaicite:162]{index=162}:contentReference[oaicite:163]{index=163}.

7. Oversight of Willis Bond Ownership Network, Oversight Solutions NZ (AML360 report), https://oversightsolutions.co.nz/profile/WILLIS-BOND-AND-COMPANY-MANAGEMENT-LIMITED:contentReference[oaicite:164]{index=164}:contentReference[oaicite:165]{index=165}.

8. Annual Report 2019–2020 – McGuinness Foundation Trust (Related Parties), McGuinness Institute, https://www.mcguinnessinstitute.org/wp-content/uploads/2025/03/AIR-2020-AnnualReport20192020-ATT1.pdf:contentReference[oaicite:166]{index=166}:contentReference[oaicite:167]{index=167}.

9. NZ Super Fund Annual Report 2023 – List of Managers (Willis Bond), Guardians of NZ Super, https://nzsuperfund.nz/public/assets/Uploads/Annual-Report-2022-23.pdf:contentReference[oaicite:168]{index=168}.

10. Willis Bond – Investment Funds Overview, Willis Bond & Co site, https://www.willisbond.co.nz/investment1:contentReference[oaicite:169]{index=169}:contentReference[oaicite:170]{index=170}.

11. Willis Bond – Investment Funds Investors (ACC, ANZ, etc.), Willis Bond & Co site, https://www.willisbond.co.nz/investment1:contentReference[oaicite:171]{index=171}.

12. NZ Herald – Mayoral Business Group Loses Mark McGuinness, by Georgina Campbell, NZ Herald (17 Dec 2024).

13. The Spinoff – Interview with Mayor Tory Whanau (Developers’ input), The Spinoff (3 Apr 2024).

14. The Spinoff – Wellington District Plan and Character Areas, The Spinoff (7 Mar 2024).

15. Wellington.Scoop – “No resource consent, but new waterfront building is now leasing”, Scoop Wellington (5 Oct 2019).

16. Wellington.Scoop – “Too high and too wide” (Lindsay Shelton op-ed), Scoop Wellington (2 Aug 2017).

17. Wellington.Scoop – Comments on Site 9 Development (Public Feedback), Scoop Wellington (2017 & 2019 comments).

18. MBIE Consultation Summary – Earthquake-Prone Buildings (Willis Bond submission), Ministry of Business, Innovation & Employment, 2015, https://www.mbie.govt.nz/dmsdocument/77-building-seismic-performance-consultation-full-report-pdf:contentReference[oaicite:184]{index=184}:contentReference[oaicite:185]{index=185}.

19. NZ Herald – Mark McGuinness Op-Ed “Modern leaseholds are safe and smart”, NZ Herald (16 Jan 2018).

20. Wellington Power Players List (Mark McGuinness profile), Wellington Live (Nov 2023) (context: identified as a key figure shaping the city).

21. Democracy Project – Integrity Institute Launch (Lobbying in the Shadows), Bryce Edwards via DemocracyProject.substack (Apr 2025).

22. Integrity Institute Briefing – Vested Interests in NZ Politics, Bryce Edwards, The Integrity Institute (2025).

23. Facebook (Public Post) – Tauranga Mayor on Sale of Devonport Rd to Willis Bond, via “Are you ready yet?” community page (Jan 2023).

24. Lusha Business Directory – Willis Bond Company Info, Lusha.com (2023).

25. Property Council Awards 2024 – Willis Bond wins multiple categories, Property Council NZ News (Jul 2024).

26. Scoop News – “Blessing marks formal handover… from Willis Bond to Council”, Scoop (Jul 2023).

27. Scoop Wellington – “Open waterfront space vs buildings” (letter), Scoop (Jul 2021) (expressing concern over WCC’s dealings with Willis Bond).

Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz