Summerset Group Holdings Ltd has bought land in Rangiora & Blenheim to build 2 retirement villages.
It has 25 villages completed or in development.
The Rangiora village, on 9ha at 141 South Belt Rd, will be Summerset’s fourth in Canterbury and will offer over 300 independent living homes.
The Blenheim village, on 6ha on Old Renwick Rd, will be Summerset’s first in Marlborough and Blenheim’s largest retirement village, containing over 200 independent living homes.
Both villages will have a memory care centre for people living with dementia.
Summerset chief executive Julian Cook said total investment in the 2 villages would exceed $250 million.
Both land purchases are subject to Overseas Investment Office approval.
Attribution: Company release.