Summerset Group Holdings Ltd has bought an 8ha site at Papamoa Beach for its first Tauranga retirement village.
Council planning commissioners have refused consent for a Summerset Group retirement village proposed for a Meadowbank site in east Auckland because of its overbearing height.
Retirement village developer & operator Summerset Group Holding Ltd issued a forecast yesterday that its underlying profit for the 30 June half-year, just ended, would be between $43-45 million, reflecting growth of between 21-26% on the June 2017 half.
Metlifecare Ltd has bought 3 adjoining properties for a retirement village development at Beachlands, on the Pohutukawa Coast in Auckland’s south-east.
Summerset Group Holdings Ltd has bought a 9ha property at Eriksen Rd, Te Awa, for its second retirement village in Napier & fourth in Hawke’s Bay.
US asset managing giant Blackstone Group LP’s local retirement village owner & operator, Arena Living NZ Ltd, has added a 6th village to its portfolio, Mt Eden Gardens. The price hasn’t been disclosed.