Ann: GENERAL: MET: Metlifecare Moves Ahead with N

• Release Date: 20/12/13 15:49
• Summary: GENERAL: MET: Metlifecare Moves Ahead with New $40m Glenfield Village
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					MET
20/12/2013 13:49
GENERAL

REL: 1349 HRS Metlifecare Limited

GENERAL: MET: Metlifecare Moves Ahead with New $40m Glenfield Village

20 December 2013
Media Release

Metlifecare Moves Ahead with New $40m Glenfield Village
Construction to commence in January 2014

Retirement village operator, Metlifecare (NZX: MET: ASX: MEQ) has confirmed
that construction of its new Glenfield Village, The Orchards, will commence
in January 2014, following the appointment of Aspec Construction.

Upon completion, the village, located on an attactive 1.1 hectare site on
Stanley Rd in Glenfield, will offer 96 apartments and a 36 bed care facility
and will be home for more than 150 residents. The initial buildings comprise
17 apartments, a 36 bed care facility, the community centre and the
development of the historic Cox Farm homestead into a heritage cafe which
will be open to the public.

The Orchards will be Metlifecare's 24th village and is part of its target to
build rate of 200+ units per year from FY15. The high quality village will
include a range of recreational facilities and will offer residents options
from independent living through to hospital level care.

Metlifecare CEO, Alan Edwards, said: "Like many parts of Auckland, Glenfield
is facing increasing demand for housing. The Orchards village will provide an
additional 96 apartments in the area and will also help create more housing
stock as people sell their family homes to move to the village.

"Glenfield has a large and increasing older population, with limited
retirement living choices currently available in the area. The Orchards
village will provide people with a quality and desirable retirement living
option.

"Feedback and interest in this project has been significant and the local
community's response has been very positive.  We are delighted that building
will commence next month."

The Orchards village will reflect the rich history of the area and is set to
become an integral part of the community. The majority of apartments are
north facing, with views over Glenfield College's playing fields. Metlifecare
is already building its relationship with the school, through the launch of
the Metlifecare Leadership and Innovation Award for a school leaver entering
tertiary education.

Upon completion, the village will provide employment for approximately 40
people.

Metlifecare is one of New Zealand's leading retirement village and aged care
providers and currently owns and operates 23 retirement villages in prime
locations throughout the North Island.

ENDS

Released on behalf of Metlifecare by Jackie Ellis, spice communications group
phone +64 9 360 8500 or email [email protected]

For more information, please contact: Alan Edwards, CEO on tel: +64 9 539
8000.

About Metlifecare
Metlifecare is a publicly-listed aged care and retirement lifestyle company.

Established in 1984, 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 the North Island of New Zealand,
with most providing a full continuum of care from independent villas and
apartments through to serviced apartments, rest homes and hospitals.
End CA:00245543 For:MET    Type:GENERAL    Time:2013-12-20 13:49:54