MET 0.00% $5.98 metlifecare limited

Ann: ASSET: MET: Metlifecare Announces Sale of Ch

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    • Release Date: 11/09/12 17:27
    • Summary: ASSET: MET: Metlifecare Announces Sale of Christchurch Land Site
    • Price Sensitive: No
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    MET
    11/09/2012 15:27
    ASSET
    
    REL: 1527 HRS Metlifecare Limited
    
    ASSET: MET: Metlifecare Announces Sale of Christchurch Land Site
    
    Company Announcement
    11 September 2012
    
    METLIFECARE ANNOUNCES SALE OF CHRISTCHURCH LAND SITE
    
    Metlifecare Limited has today announced the unconditional sale of its Ilam
    Park, Christchurch site to Bupa Care Services New Zealand for $9.4 million.
    
    The sale is in line with Metlifecare's portfolio rationalisation plan,
    announced as part of the company's merger with Vision Senior Living and
    Private Life Care in July 2012.
    
    Managing Director of Metlifecare, Mr Alan Edwards, said: "Metlifecare is well
    placed to take advantage of growing demand within the retirement village
    industry.  Our emphasis is on the premium Auckland, Waikato and Bay of Plenty
    markets and we currently have a number of excellent greenfield and brownfield
    opportunities in the pipeline in these areas."
    
    Settlement is planned for 27 September 2012.
    
    ENDS
    
    For more information, please contact:
    
    Alan Edwards
    CEO and Managing Director
    Tel: 09-539-8000
    
    About Metlifecare:
    
    Metlifecare is a publicly listed aged care and retirement lifestyle company.
    Established in 1986, 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 New Zealand, with most providing
    provide a full continuum of care from independent villas and apartments
    through to serviced apartments, rest homes and hospitals.
    www.metlifecare.co.nz
    
    Released on behalf of Metlifecare by Jackie Ellis, spice communications group
    tel 09 360 8500 or email [email protected]
    End CA:00227164 For:MET    Type:ASSET      Time:2012-09-11 15:27:32
    				
 
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