Boosting Local Business

The Wairarapa Building Society (WBS) has a proud tradition of supporting local businesses in their development plans dating back 150 years. That tradition continues with assistance given to local firms as they establish themselves. This includes Jacob Hyslop and Anastasia Smith. We share their story on how we’ve helped them on their business journey.

Jacob Hyslop and partner Anastasia Smith are a young couple with ambitious plans for the future. Raised on a farm, Jacob spent years working in agriculture and started a fencing contracting business, but, along with Anastasia, an architectural drafter, he harboured ambitions to build homes.

The couple started out building spec houses with the support of their bank, but as the housing market tightened it became more difficult to find suitable land for their projects, so they decided to buy some land and develop it themselves.

When they presented their development plans to their bank, they were declined.

“They wouldn’t back us; they wouldn’t lend us the money to do a reasonable sized subdivision,” says Jacob.

Jacob is no stranger to risk. In his youth he was a prominent cross-country motorcyclist, and he knew the key to success was being well prepared.

He and Anastasia approached WBS with a detailed business case.

The manager took a close look at their calculations and agreed to support them.

The result is Pohutukawa Place in Masterton where new houses have appeared, built by Jacob to plans drawn up by Anastasia.

With the further support of WBS, the couple is also part of a group of investors developing lifestyle blocks near Masterton.