Adarsh Patel

Adarsh Patel has been a successful business owner and property developer for over 18 years and is relishing the opportunity to try something a little different, to assist us as a member of the Trust Board.

Adarsh Patel is no stranger to business challenges, such as conquering market volatility or facing the GFC head-on. Yet he jokes that his biggest hurdle right now is not embarrassing his two girls.

It turns out that his daughters, currently in Years 9 and 11, are a little embarrassed about having a dad in the school spotlight, as he recently joined the governance team. “To make matters worse, my cell phone went off in a formal prize giving recently, which is usually something I’m vigilant about! But that added to the girl’s embarrassment of their dad!” he jokes.

We are sure he will make them proud as one of the newest members of the Trust Board, as he is a great fit to help guide us into our collective future.

Business in the blood

Adarsh has led a successful property finance firm, ASAP Finance, with his brother, for nearly two decades. His father was also in the property business.

Their iconic company now funds over 850 dwellings and other commercial developments across New Zealand annually.

Adarsh also has a genuine passion for hands-on property development, which forms a small but important arm of the business.

“We’ve done niche, terraced town houses, apartments and then large master planned community developments. A little bit of everything – which makes it interesting!” he says.

Adarsh also believes that on-the-ground experience of developing property gives him invaluable insights for his client base. Their development advisory services are a key part of their property finance solution.

“The best way to learn and know how to fund development properties is to do it ourselves. The real-world insights are invaluable for us as lenders and in our ability to assist clients with developments. It also offers a great balance for us, outside of our core business,” says Adarsh.

Recently, the property sector has been under increased pressure with issues like supply chain constraints, inflation, and labour shortages. But Adarsh has witnessed plenty of market twists and turns over the years and believes the business is equipped with the tools and knowledge, to tackle cyclical downturns.

“We were a very young business at the onset of the GFC, and it was remarkable to be at the coal face for that. We have seen a few economic cycles now and to be frank, current market challenges haven’t caused much of an issue for us. The funding arm of our business is in good shape” says Adarsh.

Along with other Trustees with skills in this sector, he hopes his experience can contribute to the Campus Master Plan. “The Board is looking to share the plan with the College community later this year and bringing it to life will be a great step for the future of St Cuthbert’s. In due course, I hope I can assist with this.”

A community focus

Joining any Board can be a big commitment for busy businesspeople and parents, but Adarsh didn’t hesitate to jump into this role.

“The motivation for me was to give back. In my professional career I have always felt it’s important to be community-minded and contribute in whichever way I can.”

Along with other Trust Board members, we are certainly appreciative of his commitment, and it seems that the first couple of months in the new seat have been enjoyable.

“I must say, so far so good. The members have been extremely welcoming, and I’m nothing short of impressed by the breadth of expertise across the table.”

Of course, Adarsh can’t disclose too many details of what goes on in a typical School Board meeting, but he says it’s run just as professionally as any commercial Board.

“We discuss the same governance matters as any other commercial entity… ultimately with a view to act in the best interest of our students. Everyone has a voice and has a lot to offer. Today’s students and future students are in good hands, I believe.”

The St Cuthbert’s point of difference

We asked Adarsh what initially motivated him to choose St Cuthbert’s for his girls.

“My wife and I were initially looking at our local primary school, but my brother influenced me to look at private schools. We did some ‘market research’ shall we say, chatting to Old Girls and visiting a couple of other private Schools, and we were impressed with the passion of students and staff at St Cuthberts. It also offered the cultural diversity that we were looking for in a school.”

The single-sex factor also contributed to the family’s decision.

“Having done research and seen the stats, we felt an ‘all girls’ approach might be better. And it has turned out to be a great decision. The girls love it which is the most important thing.” Then he adds apologetically, “Although … they may cringe at this article on their dad!”

We welcome Adarsh to the Boardroom team.