FBU
01/04/2015 13:30
GENERAL
NOT PRICE SENSITIVE
REL: 1330 HRS Fletcher Building Limited
GENERAL: FBU: FBL to Sell Portion of Manukau Golf Course Land
Fletcher Building to Sell Portion of Manukau Golf Course Land
Auckland, 1 April 2015
Fletcher Building subsidiary Fletcher Living has signed a conditional
agreement to sell 5.5 hectares of land on the Manukau Golf Course to
Metlifecare for a retirement village.
The land is at the north end of the golf course near Great South Road. The
agreement is conditional on Metlifecare undertaking due diligence and both
parties obtaining any necessary consents and approvals.
Fletcher Living purchased the Manukau Golf Course in 2013 and has consent to
build 479 houses on the land. Manukau Golf Club has been developing a new
course at Ardmore and is on track to have members playing there in September
2016.
This will allow Fletcher Living to begin earthworks in October 2016 on its
own land and the Metlifecare land for the efficient provision of
infrastructure.
Fletcher Living's General Manager Ken Lotu-I'iga says Metlifecare's plans for
the site complement Fletcher Living's own plans.
"When we develop a master plan for a residential development we include open
spaces, parks and other community amenities. Metlifecare has a similar
philosophy as their plans for this site include a cafe which will be a great
addition to the local community."
The earthworks are expected to be completed in September 2017 for both the
Metlifecare land and stage one of Fletcher Living's development.
ENDS
For further information contact:
For Media:
Shannon Huse Caldwell
External Media
Phone: + 64 9 525 9085
Mobile: + 64 027 807 2933
Email: [email protected]
For Investors:
Philip King
Group General Manager
Investor Relations & Capital Markets
Phone: + 64 9 525 9043
Mobile: + 64 27 444 0203
End CA:00262613 For:FBU Type:GENERAL Time:2015-04-01 13:30:02
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