MET
03/12/2015 08:32
ASSET
PRICE SENSITIVE
REL: 0832 HRS Metlifecare Limited
ASSET: MET: Metlifecare - Albany Site Unconditional
Date: 3 December 2015
Media Release
METLIFECARE - ALBANY SITE UNCONDITIONAL
Metlifecare (NZX: MET; ASX: MEQ) confirms that it has successfully concluded
its due diligence investigations on the acquisition of the three hectare site
in Albany. The site, on McClymonts Road, will be Metlifecare's 16th village
in the wider Auckland region and the 27th in the North Island. The
acquisition is now unconditional with settlement scheduled for 31 March 2016.
The proposed village will provide a full range of living options, including a
care facility and multi-storied apartments.
The confirmation comes after the official opening of The Orchards village
last week in Glenfield, where the first two stages of 54 independent living
units sold before completion of the stages. The Orchards is also the first
retirement village in New Zealand designed and constructed to achieve a 6
Homestar rating for efficiency and sustainability. Construction and sell-down
of Greenwich Gardens in Unsworth Heights is also continuing.
Building for future demand, Metlifecare's pipeline is approximately 2,400
units and care beds. The company continues to look for additional development
opportunities and is progressing its resource consent for the land at Red
Beach on the Hibiscus Coast.
ENDS
For more information please contact:
Alan Edwards
Chief Executive Officer
Tel: +64 9 539 8000
About Metlifecare
Metlifecare is a publicly-listed aged care and retirement lifestyle company.
The happiness of our residents is at the heart of everything we do. We offer
rewarding retirement lifestyle within vibrant social communities backed up by
a full range of care services when required.
Established in 1984, the company has a proven track record of successfully
owning and managing retirement villages in New Zealand. Metlifecare currently
owns villages in prime locations throughout the North Island of New Zealand.
Designed with our residents' personal freedom and sense of security in mind,
our living options range from independent villas and apartments through to
serviced apartments, rest homes and hospitals.
metlifecare.co.nz
End CA:00274547 For:MET Type:ASSET Time:2015-12-03 08:32:42
