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- Release Date: 01/11/13 10:54
- Summary: GENERAL: SUM: Summerset to Commence Construction in Karaka
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SUM
01/11/2013 08:54
GENERAL
REL: 0854 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset to Commence Construction in Karaka
NZX AND ASX RELEASE
1 NOVEMBER 2013
SUMMERSET TO COMMENCE CONSTRUCTION IN KARAKA
Summerset has announced a $70 million retirement village for the
Counties-Manukau area of Karaka.
The retirement village operator has been granted resource consent for the
initial phase of the village, which will comprise some 125 villas,
townhouses, apartments and care apartments on a 3.6ha site at Hingaia Road,
Karaka. It will also offer rest home and hospital-level care. The company has
a further 1.2ha adjacent to the site which would allow for further expansion
subject to resource consent.
Named Summerset at Karaka, it will be the leading retirement company's 17th
village. This will be Summerset's third village in the Auckland region after
villages in Manukau and Warkworth, with another two land sites at Ellerslie
and Hobsonville.
Summerset CEO Norah Barlow said, "It's a beautiful site that will maintain
the characteristics that make Karaka special - the village will have a rural
feel. It's going to be a great village in a fantastic location. We're very
pleased to have the opportunity to build there."
Summerset CFO Julian Cook says the Counties-Manukau area is going to see
enormous growth in both the total population and the aging population in the
future. "Our Karaka village will provide the people of that area with another
high quality Summerset village after Manukau, with the full range of care and
independent living options."
ENDS
Julian Cook
Chief Financial Officer
[email protected]
04 894 7310 or 029 894 7310
Kimberley Rothwell
Communications Advisor
[email protected]
04 894 6993 or 027 601 2001
End CA:00243210 For:SUM Type:GENERAL Time:2013-11-01 08:54:11
