SUM
03/12/2014 09:12
GENERAL
NOT PRICE SENSITIVE
REL: 0912 HRS Summerset Group Holdings Limited
GENERAL: SUM: Resource Consent Granted for Wigram, Christchurch Village
NZX, ASX & MEDIA RELEASE
3 DECEMBER 2014
RESOURCE CONSENT GRANTED FOR WIGRAM, CHRISTCHURCH VILLAGE
Summerset has been granted resource consent to build a NZ$80 million
retirement village in Wigram, Christchurch, which will see the company
achieve a long-held goal.
The village will be the company's first in Christchurch, and will be
Summerset's 20th village nationwide.
CEO Julian Cook said, "It's taken us 17 years to reach this goal. We also
reached the goal of 2000 units nationwide this year. This was another special
milestone for us. Our growth has been driven by listening to what our
customers really want, and has resulted in us winning Best Retirement Village
Operator in New Zealand and Australia four times in a row.
"We're very excited about coming to Christchurch and being part of New
Zealand's second largest city as it rebuilds. We're looking forward to
becoming part of the community, just as we have at our villages throughout
the North Island and in Nelson and Dunedin."
Construction on the first homes in the NZ$80 million development will begin
next month, with first homes available in late 2015.
The Wigram village will be set on a 5.4ha site on the corner of Awatea and
Wigram Roads, near to the Wigram Skies development. The completed village
will have approximately 200 homes including villas, townhouses and care
apartments.
On completion, the village will also have a care centre providing rest home
and hospital-level care with around 50 beds. These will be housed in the
Village Centre - also home to many recreational facilities such as a caf?,
hair salon, residents' bar, swimming pool and lounges. A bowling green will
be built outdoors.
Care apartments are a Summerset innovation - DHB-certified apartments where
residents can receive care up to rest home level in their own homes. This
means that should a resident's needs change, they won't have to move to a
care centre, and can maintain their independence but also have all the help
they need.
Figures by valuers CBRE show that there is a shortage of retirement village
living in Canterbury, with less than 10% of Cantabrians aged 75+ living in a
village, compared with 12.5% of those aged 75+ nationally. Mr Cook said, "We
believe there is a shortage of quality retirement village and aged care
living options in Christchurch and we have received a very positive response
from the people of Christchurch since announcing our plans. We are looking
forwards to commencing development of our Wigram and Casebrook villages."
Mr Cook said, "We constantly listen to our customers and research the best
layout and design for older New Zealanders. We create homes and communities
that look beautiful, and are practical and easy to use. We provide an
environment that improves the quality of life for those living in it."
In addition to the Wigram site, Summerset also has a 9.7ha greenfield site at
Casebrook, Christchurch.
The company is working towards lodging resource consent for a village on that
site, and is aiming to have homes available in the next few years.
Mr Cook said, "We focus on building communities and houses for older New
Zealanders and as of today, almost 3000 people have chosen to make their home
with us. It's only by ensuring we are their first choice for retirement
village living and care options that have we reached this point."
The company is on track to build 250 retirement units at multiple sites
around the country this year, and is well placed to build 300 units in 2015.
During the construction of the village, it is estimated up to 300 FTE jobs
will be created. The village will create 30 FTE jobs when it is fully
operational.
Summerset is currently building at eight other sites around the country;
Warkworth, Hobsonville, Karaka, Hamilton, Katikati, New Plymouth, Trentham
and Nelson.
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:00258441 For:SUM Type:GENERAL Time:2014-12-03 09:12:23
