Brooks has launched a new business, The Office Capital Partners. <\/p>\n
Randall says the pair remain close friends and will continue to \u201cshare family holidays together\u201d. He says the amicable business detachment has been in the works for the past nine months. <\/p>\n
\u201cWe\u2019ve made internal changes where James was more focused on residential, and Steve has always been focused on both groups. The desire to complete this transaction\u2019s been the last three months,\u201d Randall said. <\/p>\n
Brooks and Cooney began collaborating in property after meeting in 2013 and quickly grew to be one of New Zealand\u2019s largest privately owned residential portfolios of more than 450 homes. They also own a substantial commercial property portfolio.<\/p>\n
Wolfbrook is ranked as one of New Zealand\u2019s largest residential developers and builders, placing fifth nationally on the BCI Index in July 2025. They have had developments in Auckland, Christchurch, Wellington, Bay of Plenty, Dunedin and Queenstown. <\/p>\n
In the split, Cooney takes Wolfbrook Residential and Wolfbrook Capital companies, while Brooks will have Wolfbrook Property Management and a number of other companies owned by the group. The property management business is one of the largest in New Zealand, with more than 4900 properties under management. <\/p>\n
Brooks will also take Fortress Group businesses, Property Services Group and Prime Joinery.<\/p>\n
There will also be a number of large joint ventures. <\/p>\n
\u201cWhat remains is The Park \u2013 Wolfbrook\u2019s newly released development in Christchurch \u2013 the former Pegasus golf course development, the Carlton Mill Apartments and a number of other smaller businesses that they retain together,\u201d Randall said.<\/p>\n
The Park, a $270m Wolfbrook Residential development in Christchurch that overlooks Hagley Park and the Avon River.<\/p>\n
The Park will be the biggest development Wolfbrook has undertaken in terms of investment. The $215m development will overlook Hagley Park North and the Avon River. The sale price of a penthouse is expected to rewrite the record books in Christchurch. <\/p>\n
The biggest by way of size is the under-construction Quill Lane at the former Smith\u2019s City site on Colombo St in Christchurch. That will deliver around 110 units to the inner city site.<\/p>\n
Wolfbrook has had its share of controversy as well recently, after acquiring the former Pegasus Golf Course in North Canterbury. The company attempted to have the land rezoned as residential through the Fast-track process. Their initial application for the Pegasus West Development was declined.<\/p>\n
Wolfbrook has released its proposed masterplan for a 1000-home development on the former Pegasus Golf Course. The plan is indicative only and subject to change. Supplied \/ Wolfbrook<\/p>\n
According to its website, Wolfbrook Residential has built more than 1400 homes and has a staff of around 85. <\/p>\n
Across all Wolfbrook businesses, staff numbers sit at around 320. They\u2019ve been told of the plan \u2013 part of which would come into effect in two weeks\u2019 time. <\/p>\n
\u201dWolfbrook Property Group, which is Wolfbrook Capital, Property Management and Residential, that settles on November 1,\u201d said Randall. <\/p>\n
Randall says the split will not impact staff numbers. <\/p>\n
\u201cFor some of them it might have come as a shock at first, but overwhelmingly, the staff have been positive.\u201d<\/p>\n
Guy Randall is chief executive of Wolfbrook Residential which has its headquarters in Christchurch.<\/p>\n
Randall says feedback from investors has also been positive. <\/p>\n
\u201cWolfbrook Capital Fund has got around 475 investors in its wholesale capital fund, and investors have been really pleased that James is going to be focused on residential construction. They know both of the owners and directors really well and know that they\u2019ve got different personalities and different passions, and they\u2019re at different stages of life in terms of what they want to focus their next years on,\u201d said Randall. <\/p>\n
Randall will continue in his role as CEO of Wolfbrook Property Group and will assist Brooks with the former venture\u2019s businesses.<\/p>\n