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- Release Date: 25/06/12 15:02
- Summary: GENERAL: SUM: Summerset preparing for development of 16th site
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SUM
25/06/2012 13:02
GENERAL
REL: 1302 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset preparing for development of 16th site
25 June 2012
Summerset preparing for development of 16th site
Summerset Group is moving closer to construction on its 16th retirement
village having just gained Overseas Investment Office approval for the
purchase of a waterfront property in Hobsonville, Auckland.
The retirement village developer and operator is currently working through
resource consent for the 7.6 hectare site, formally known as Monterey Park.
Summerset is currently developing five villages and is well placed to meet
its target of 155 units for the 2012 year.
Summerset CEO Norah Barlow said the company was continuing to concentrate on
developing in the Auckland region.
"Auckland is obviously a region of great growth. However we are a nationwide
company and are committed to growth in all areas of New Zealand."
Mrs Barlow said the retirement village sector as a whole was in particularly
good shape.
"Retirement villages have been credited with boosting national building
consent statistics. There is a lot going on."
Summerset was established on the Kapiti Coast in 1997. Its head office is now
based in Wellington. Summerset's majority shareholder is Australian company
Quadrant Private Equity who maintain a 56% stake.
ENDS
For more information:
Tristan Saunders
Summerset Group Limited
04 894 7313 or 027 894 7313
End CA:00224244 For:SUM Type:GENERAL Time:2012-06-25 13:02:46
