ASX-listed retirement village operator Summerset will spend $NZ50 0 million on five developments in Auckland.
“In our five Auckland villages we will spend a total of $NZ500 million, and create homes for some 1,300 people. We’ve built a village at Manukau, and are close to completing our Warkworth village,” Summerset CEO Norah Barlow said.
“Now we’re commencing work on our Karaka village and look forward to construction starting on our Hobsonville village. We are working with Council and looking to finalise resource consent to commence our Ellerslie village as soon as possible,” he added.
On the weekend the company unveiled plans for the 7.6ha Hobsonville village comprising approximately 225 homes comprising villas, apartments, and care apartments, and a 90-bed care centre providing rest home and hospital-level care.
The village will be named Summerset at Monterey Park after the tourist theme park that previously occupied the site.
Summerset CEO-designate Julian Cook said the village is going to be an asset for the community and for wider Auckland.
“We look forward to contributing to the growth of Hobsonville which is on its way to becoming a vibrant part of the city, and to the city as a whole as our developments progress.
“In our experience, many of the people moving into retirement villages are down-sizing from three and four bedroom family homes. This frees up homes in the community for younger families,” Cook said. “Our villages also support the ageing population, who require safe, secure housing that is designed for their needs. Demand for our villages across the city shows there’s a real need for this kind of housing.”
Property Review
