RYM ryman healthcare limited

Ann: ASSET: RYM: Ryman Healthcare to build boutique village in Wellington

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    • Release Date: 03/07/14 14:25
    • Summary: ASSET: RYM: Ryman Healthcare to build boutique village in Wellington
    • Price Sensitive: No
    • Download Document  3.44KB
    					RYM
    03/07/2014 14:25
    ASSET
    
    REL: 1425 HRS Ryman Healthcare Limited
    
    ASSET: RYM: Ryman Healthcare to build boutique village in Wellington
    
    Ryman Healthcare has bought a significant site in Newtown which will be
    developed into a boutique retirement village for the wider South Wellington
    community.
    
    The 6000m sq site has been bought from supermarket giant Foodstuffs for an
    undisclosed sum and has frontages on Adelaide Rd and Hanson St.
    
    Ryman Healthcare managing director Simon Challies said the new village would
    include independent and serviced apartments, as well as resthome, hospital
    and dementia care.
    
    "It's a great site with terrific views across the city and it is close to
    public transport, shops and the hospital.''
    "Newtown is a vibrant part of Wellington with a strong sense of community and
    we're delighted to be building there.''
    
    Mr Challies said the southern suburbs were under-serviced for retirement
    village options and the boutique village would fill a gap in the market.
    
    "Wellington has a rapidly growing ageing population in line with the rest of
    the country. It's our sixth village in the greater Wellington area which is a
    sign of our commitment to the region.''
    
    Design concepts are being worked on but it is too early to say what the final
    scheme will look like or when a construction start date is likely.
    
    Angela Bull, general manager of Property Development at Foodstuffs North
    Island, said the site was sold after a re-evaluation of the co-operative's
    portfolio.
    
    "After investigating a range of options for the site, we are pleased to have
    been able to work with Ryman Healthcare to achieve a great result for both
    the property and the Wellington community," Angela Bull said.
    
    Ryman opened its first Wellington village in 1998 and its villages include
    Malvina Major in Khandallah, Rita Angus in Kilbirnie, Shona McFarlane in
    Lower Hutt and Charles Fleming in Waikanae. In addition, construction is
    under way on a new village in Petone.
    
    Statistics NZ estimates the number of New Zealanders aged 75 plus will almost
    triple to 731,000 over the next thirty years.  Ryman opened a new village in
    Melbourne earlier this year. In Victoria the outlook is similar, with the
    number set to triple to 1.1 million.
    
    Earlier this year Ryman announced it had eight new sites in its landbank.
    Other villages are being developed in Birkenhead, Devonport, Pukekohe and a
    new village will open later this year in Howick. Four sites are still covered
    by confidentiality agreements.
    
    Ends
    
    Ryman's current developments:
    Weary Dunlop Retirement Village, Melbourne (first stages open with later
    stages under construction)
    Bruce McLaren Retirement Village, Howick (under construction, first stage
    open this month)
    Beckenham Courts Retirement Village, Christchurch (earthquake damaged site
    being rebuilt, final stages under construction)
    Petone (under construction)
    Birkenhead (resource consent stage)
    Devonport (design stage)
    Brandon Park, Melbourne (design stage)
    Pukekohe (design stage)
    Newtown (just announced)
    
    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:00252401 For:RYM    Type:ASSET      Time:2014-07-03 14:25:29
    				
 
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