SUM
21/09/2015 08:44
ASSET
PRICE SENSITIVE
REL: 0844 HRS Summerset Group Holdings Limited
ASSET: SUM: Resource Consent Granted for Second Christchurch Village
NZX AND ASX RELEASE
21 SEPTEMBER 2015
RESOURCE CONSENT GRANTED FOR SECOND CHRISTCHURCH VILLAGE
A $100 million retirement village is to be built in Christchurch after
Summerset received resource consent for its Casebrook village, adjacent to
Cavendish Road in the north of the city.
The village will comprise around 237 homes, including a range of two and
three-bedroom villas and care apartments. A 49-bed care centre will provide
rest home and hospital-level care.
The 9.7ha Casebrook village will offer residents the full range of living and
care options from independent living right through to hospital-level care.
Summerset's care apartments will allow residents to access a range of care
options from support packages right up to DHB certified rest home care in
their own apartment. Communal facilities including a caf?, library, hair
salon and gymnasium, and an indoor swimming pool will also be available.
Construction will commence in early 2017, with first homes available later in
the year.
Summerset's CEO Julian Cook said: "Casebrook is in a great location,
bordering a reserve area in an established residential location, with great
access to shops and local amenities. We're excited to be bringing premium
retirement village living and care options to Christchurch. Our Wigram
village is proving to be popular and we are very encouraged by the positive
reception from people in Christchurch."
The Greater Christchurch Urban Development Strategy has identified Casebrook
as an area set for long-term growth and approximately 7,000 Cantabrians aged
over 75 live within a five-kilometre radius of the Casebrook site, said Mr
Cook.
Casebrook will be the company's second retirement village in Christchurch.
First residents move into Summerset's new Wigram village this month, with the
village centre due to open in spring 2016. When complete, the village will be
home to more than 300 people.
Summerset recently announced an increased target build rate of 400 retirement
units per annum for 2016 and beyond, up from 300 for 2015. In July this year
it also announced three Auckland land acquisitions in St Johns and Parnell,
both in Auckland's eastern suburbs, and land adjacent to Summerset's
Warkworth village.
ENDS
For investor relations enquiries:
Scott Scoullar
Chief Financial Officer
[email protected]
04 894 7320 or 029 894 7317
For media enquiries:
Katy Sweetman
Senior Communications and Marketing Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00270443 For:SUM Type:ASSET Time:2015-09-21 08:44:28
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