MET
31/03/2016 16:01
ASSET
PRICE SENSITIVE
REL: 1601 HRS Metlifecare Limited
ASSET: MET: Metlifecare - Albany Land Settled
Date: 31 March 2016
Media Release
METLIFECARE - ALBANY LAND SETTLED
Metlifecare (NZX: MET; ASX: MEQ) confirms that it has settled the purchase of
its three hectare site at 98 McClymonts Road, Albany. This acquisition
increases Metlifecare's presence in Auckland's North Shore. It also takes the
total number of sites owned by the retirement village operator to 26.
The site has a prime location close to the expanding Albany retail district,
the Northern Busway terminal and the growing residential environment. The
proposed scheme is subject to the normal project due diligence process,
including a number of approvals such as resource and building consents.
Pending these approvals, the first units are expected to be completed in
FY19.
Metlifecare continues to look for additional development opportunities to
augment the company's current land bank of 2,184 units and care beds.
ENDS
For more information please contact:
Alan Edwards
Chief Executive Officer
Tel: +64 9 539 8000
metlifecare.co.nz
End CA:00280120 For:MET Type:ASSET Time:2016-03-31 16:01:31
