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- Release Date: 15/05/12 10:30
- Summary: GENERAL: SUM: Summerset starts construction of 15th village
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SUM
15/05/2012 08:30
GENERAL
REL: 0830 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset starts construction of 15th village
May 14 2012
Summerset starts construction of 15th village
Construction on NZX-listed Summerset's 15th retirement village has started.
The village, Summerset at Bishopscourt in Dunedin, will be the leading
retirement village developer and operator's second village in the South
Island.
Summerset plans to spend more than $40 million developing the village, which
will take up to five years to complete.
The first stage of building will feature 30 homes. The first of these are
scheduled for completion by the end of this year, when the first residents
will be able to move in.
Eventually the village will feature more than 100 homes, 40 care beds as part
of a Care Facility, and be home to up to 200 residents.
Summerset has already experienced high demand for the village from Dunedin
residents and across the South Island, particularly Christchurch.
Summerset has started recruitment for village employees in Dunedin, including
a Sales Manager, and a local construction manager. The village will
eventually employ up to 40 people from the local community.
Summerset is to project and construction manage the project. It has a policy
to use sub-contract local firm where possible, earthworks for the project are
currently being carried out by Dunedin-based Hall Brothers Transport.
CEO Norah Barlow said the announcement of the construction comes after the
company's pleasing result at its recent AGM.
"This just shows we are continuing our growth campaign as laid out to
investors and the public," she said.
We are also particularly pleased by the support we have received from the
Dunedin public. And we look forward to being a part of the community.
"Having a village in the real heart of the south further cements our place as
a nationwide operator. This has really been proven by the number of people
who have expressed interest in the site, which is in a fantastic location.
"This new village will help us achieve our target of developing 155 units in
2012."
ENDS
For more information:
Harriet Palmer
Summerset Group Limited
04 894 6993 or 027 601 2001
End CA:00222834 For:SUM Type:GENERAL Time:2012-05-15 08:30:13
