SUM
08/08/2014 09:20
GENERAL
REL: 0920 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset to Build NZ$130 Million Village in Ellerslie
NZX, ASX & MEDIA RELEASE
8 AUGUST 2014
SUMMERSET TO BUILD NZ$130 MILLION VILLAGE IN ELLERSLIE
Summerset has been granted resource consent to build a NZ$130 million
retirement village in a much sought-after location in central Auckland. The
proposed village, situated on Harrison Road, Ellerslie, will create homes for
some 400 people.
The 3.8 hectare village will consist of 250 homes including townhouses,
villas and apartments, as well as care apartments where residents can receive
rest home-level care in their own homes.
Summerset CEO Julian Cook said, "This village is going to provide older
people in the community with much-needed homes that are built with their care
and needs in mind. The village will also feature many facilities that help
residents enjoy their retirement, socialise with their neighbours, and
continue their active lives.
"Ellerslie is currently underserved from a retirement village perspective.
This village will be an important addition to the community. People won't
have to move away to enjoy top quality retirement village living, and neither
will they have to leave their community should their needs change."
The village will have an 80-bed care centre offering rest home and
hospital-level care. Care integrated into a village in this way provides
residents with certainty that should they require more care as their needs
change, it is provided on site.
The Ellerslie village will be built on the former site of St John Ambulance
regional offices. The site was also at one stage a natural heritage theme
park. An existing pond on the site will be integrated into the village's
design and provide a back-drop to views over the city from the purpose
designed apartment buildings.
The development at Ellerslie will also include a village centre with
recreational facilities and amenities including an indoor swimming pool and
spa pool, cafe, lounges, hobbies room and residents' bar. The village will
also have a communal vegetable garden, residents' workshop, BBQ facilities,
and a combined croquet lawn and bowling green.
The village will be designed to Lifemark standards; a common sense set of
design standards that allow for the changing needs of older people.
The site is near the amenities of the Ellerslie shops, Ellerslie Racecourse
and the Sylvia Park shopping centre.
Summerset has seen homes snapped up in its other Auckland villages, and
welcomed first residents to villages at Karaka and Hobsonville recently.
Sales of occupations rights in those villages have been strong, with stages
released early due to demand.
Mr Cook said, "It's been a pleasure to see the first residents moving into
our new Auckland villages, where sales are have been excellent."
The company will have spent NZ$500 million on the development of Auckland
villages when the Ellerslie village is completed.
Summerset has a completed village at Manukau, and are close to completing a
village at Warkworth. Earlier this year, the company started work on the
NZ$70 million village at Karaka and NZ$120 million village on the waterfront
at Hobsonville.
Construction of this village will employ up to 300 people during the building
phase, and up to 40 further permanent jobs when it is completed. People
moving into the village will also free up existing homes, helping to ease
pressures on the housing market.
ENDS
For investor relations enquiries:
Scott Scoullar
Chief Financial Officer
[email protected]
04 894 7317 or 029 894 7317
For media enquiries:
Kimberley Rothwell
Communications Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00253628 For:SUM Type:GENERAL Time:2014-08-08 09:20:54
