SUM
20/10/2014 08:32
ASSET
REL: 0832 HRS Summerset Group Holdings Limited
ASSET: SUM: Summerset Reveals Plans for NZ$55M Retirement Village
NZX, ASX & MEDIA RELEASE
20 OCTOBER 2014
SUMMERSET UNVEILS PLANS FOR NZ$55 MILLION RETIREMENT VILLAGE
Summerset has released plans for its New Plymouth retirement village, which
will eventually become home to more than 240 people. The first 14 homes will
be completed next month and residents are expected to move in before
Christmas.
Summerset CEO Julian Cook said, "This village is going to provide older
people in the community with much-needed homes that are built with their care
and needs in mind. The village will also feature many facilities that help
residents enjoy their retirement, socialise with their neighbours, and
continue their active lives. It will have amenities such as an indoor pool,
exercise room, residents' bar, all-weather bowling green, residents'
workshop, communal vegetable garden, and a cafe.
"New Plymouth is currently underserved from a retirement village perspective.
This village will be an important addition to the community. People won't
have to move away to enjoy top quality retirement village living, and neither
will they have to leave their community should their needs change."
Summerset began construction of the 4ha village on Fernbrook Drive,
Vogeltown, New Plymouth earlier this year. Many of the first homes have
already been sold.
The retirement village operator uses local contractors in the construction of
its villages where possible. Up to 50 local tradespeople are at work on site,
and that number is likely to rise to around 150 when construction of the
village centre begins in the coming weeks. An estimated 30 further permanent
jobs will be created by the time the village is completed.
Mr Cook said that the development not only invests in the local economy in
this way, but provides a valuable asset for the community.
"We're not just in the business of building houses, we build homes and
communities with the changing needs of older people in mind. Our villages
support the ageing population, who require safe, secure housing that is
designed for their stage of life. Demand for our villages across the country
shows there's a real need for this kind of community living.
"We will be building care apartments, where residents can have the best of
both worlds and receive rest home-level care in their own homes. The
completed village will also have a care centre on site, providing rest home
and hospital-level care. We find that residents are reassured by having this
care nearby; it gives them certainty that should their needs change, care is
available to them without having to leave the village."
Summerset Mountain View is aptly named, with its gorgeous view out to Mt
Taranaki, and is on a flat, sunny site with a rural outlook. The village is a
10 minute drive from the town centre and a five minute drive to Pukekura
Park.
ENDS
For investor relations enquiries:
Scott Scoullar
Chief Financial Officer
[email protected]
04 894 7317 or 029 894 7317
For media enquiries:
Kimberley Rothwell
Communications Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00256574 For:SUM Type:ASSET Time:2014-10-20 08:32:14
