The Rotorua Energy Charitable Trust has placed the last piece of its property portfolio on the market - selling off the five-story Pukaki Centre.
The decision to sell the Pukaki St building came due to a change in the way the trust's assets were managed, according to chairman Grahame Hall.
Mr Hall said while the trust once owned several buildings around the country, it had now decided to put its final property on the market after entering a formal investment management agreement with Mercer NZ.
The trust was established in 1994 using some of the funds resulting from the corporatisation of the Rotorua Electricity Company and it is now reassessing its property portfolio as part of its wider strategic investment and charitable goals.
It has grown its original capital of $32 million to approximately $150 million today, with more than $93 million having been invested back into the local community by way of grants.