Ann: ASSET: RYM: Ryman Healthcare to build retirement village in...

• Release Date: 26/06/14 08:45
• Summary: ASSET: RYM: Ryman Healthcare to build retirement village in Pukekohe
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					RYM
26/06/2014 08:45
ASSET

REL: 0845 HRS Ryman Healthcare Limited

ASSET: RYM: Ryman Healthcare to build retirement village in Pukekohe

Ryman Healthcare is planning to build a new $100 million retirement village
in Pukekohe.

New Zealand's largest retirement village operator has bought a 6.58 hectare
site on Valley Rd and is working on plans to build a village which it hopes
will be opened in 2015.

The village will include two and three-bedroom independent townhouses,
apartments and an aged care centre.  The aged care centre will include
resthome, specialist dementia as well as hospital-level care.

The resort-style amenities will include a gym, a bowling green, a
hairdressing salon, a chapel, a movie theatre, a bar and an indoor swimming
pool.

Simon Challies, Managing Director of Ryman Healthcare, said the company
picked Pukekohe as the site of its newest village because it believed there
was an acute shortage of amenities in the Franklin region for retirees.

"Franklin is home to Auckland's fastest growing retired population. The
number of retirees has grown by 50 per cent to 9000 in the past seven years
alone which puts it on a par with cities such as Rotorua.''

"We believe the area is massively underserviced for care and independent
living options. Our village would more than double the number of aged care
beds in Pukekohe alone.''

"It means that Franklin people will no longer have to look elsewhere for care
- they can stay in the place they love close to their friends and families.''

"It's a terrific site and we're looking forward to building a great
village.''

Franklin Local Board chairman Andy Baker said the project would be the
largest development in the area he could remember.

"It will encourage people to stay here rather than having to move out of the
community they've been part of for a long time. It will also provide an
economic boost - its fantastic news - I'm really pleased.''

Ryman Healthcare builds, owns and operates retirement villages based on an
integrated care model for those aged over 70. The model means that residents
who move in will be looked after no matter how their care needs change over
time.

The Pukekohe village is also good news for long-term Ryman regional
construction manager David Gibson, who lives locally. He's built villages for
the company all over the North Island, and is looking forward to seeing one
built on his home turf.

"I've always thought Pukekohe would be a great place for a village. It will
be great to see it built.''

As well as providing construction work the village will create about 100
long-term full time equivalent jobs for the region. There will be roles for
registered nurses, caregivers, housekeepers, activities coordinators and
gardeners.

Ryman Healthcare is working through the design and planning process. The
company has no firm dates for when the resource consent would be lodged but
would hope to have work under way later this year.

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:00252071 For:RYM    Type:ASSET      Time:2014-06-26 08:45:36