RYM ryman healthcare limited

Ann: ASSET: RYM: Ryman Healthcare buys Tropicana

  1. lightbulb Created with Sketch. 2
    					RYM
    21/07/2014 14:23
    ASSET
    
    REL: 1423 HRS Ryman Healthcare Limited
    
    ASSET: RYM: Ryman Healthcare buys Tropicana
    
    Media release - 21 July 2014
    
    Ryman Healthcare buys Tropicana
    $120 million Auckland project will provide much-needed retirement housing and
    care
    
    Ryman Healthcare has snapped up one of the Auckland's largest remaining
    undeveloped blocks of residential land for a new retirement village.
    
    New Zealand's largest retirement village operator has bought the Tropicana
    Estate, an 8.9 ha block of land only 10km from the CBD with fantastic views
    across the Manukau Harbour.
    
    Ryman Healthcare is planning to turn Tropicana into a resort-style retirement
    village which will provide much-needed retirement amenities for the nearby
    suburbs of Hillsborough, Lynfield and Blockhouse Bay.
    
    "The Tropicana Estate is one of Auckland's gems,'' Ryman Healthcare managing
    director Simon Challies said.
    
    "Not only has it got some great sea views and native bush, it's also close to
    town and in a great neighbourhood.''
    
    Mr Challies said the new village would be the first integrated retirement
    village in the area. As well as independent retirement housing the village
    would offer a full range of aged care services including serviced apartments,
    resthome through to hospital and dementia care.
    
    "There's a real shortage of retirement housing in the local area - and the
    care options are very limited, for dementia care in particular.''
    
    "The Tropicana village will mean that people from the area will no longer
    have to look elsewhere for somewhere to live in their retirement - they can
    stay in the place they love close to their families and friends,'' Mr
    Challies said.
    
    The new development will free up a number of local homes for resale as people
    move into the village.
    
    The Tropicana village will include independent apartments, serviced
    apartments and a care centre. The centre will include specialist dementia
    care as well as hospital-level care.
    
    Other amenities will include a gym, a bowling green, a hairdressing salon, a
    chapel, a movie theatre, a bar and an indoor swimming pool.
    
    The suburbs in the immediate vicinity are home to over 6,000 retirees.
    
    Ryman Healthcare has just started working through the design and planning
    process. The company has no firm dates for when the resource consent will be
    lodged but would hope to have the village opened by mid to late 2016.
    
    Ryman Healthcare builds, owns and operates retirement villages based on an
    integrated care model for those aged over 70.
    
    As well as providing construction work the village will create long-term jobs
    for the area. There will be roles for registered nurses, caregivers,
    housekeepers, activities co-ordinators and gardeners.
    
    Ryman is expanding to keep up with demand as the population ages. Statistics
    New Zealand estimates the number of New Zealanders aged 75 plus will almost
    triple to 731,000 over the next 30 years.
    
    Ends
    
    About Ryman Healthcare: Ryman was founded in 1984 and has become one of New
    Zealand's largest listed companies.  The company owns 27 villages and serves
    over 7,500 residents in New Zealand and Australia.  Each village offers a
    combination of retirement living and aged care.
    
    Media advisory: For further information, photos, interviews or comment please
    contact Corporate Affairs Manager David King on 03 366 4069 or 021 499 602.
    End CA:00252912 For:RYM    Type:ASSET      Time:2014-07-21 14:23:14
    				
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.