Summerset Group, New Zealand’s second-largest listed retirement village operator, has purchased land to build its ninth retirement village in Auckland and its first in the East Auckland area.
The company said that investment in the village will be around NZ$300m (US$197.6m).
Planning of the 2.8 hectare site which is near the Half Moon Bay Marina is underway and will include independent living apartments ranging from one to three bedrooms, serviced apartments and care suites offering rest home and hospital care.
The village will also include a memory care centre for people living with dementia.
“The format for this village will be apartment living, as is quickly becoming the norm for urban sites in Auckland. It means we can make best use of the land available and take advantage of stunning views from the site. Upper floors will have west-facing views across Half Moon Bay, towards the city and out to the Waitakere Ranges,” said chief executive Julian Cook.
The news came as the company reported 225 sales of occupation rights for the quarter ending 30 September, comprising 100 new sales and 125 resales.
Cook said sales in the third quarter were in part driven by demand for post-lockdown safety and security in retirement villages.
“Our priority for Q3 has been keeping Covid-19 out of our villages. If there are resurgences, such as in Auckland recently, we are ready to act to keep our residents and staff safe. That’s our number one priority,” he said.
Looking ahead to Q4, Summerset intends to open the main building at its Rototuna retirement village, providing village facilities, serviced apartments, a care centre and memory care centre.
Covid-19 prevention measures (including extra care staff) continue in Summerset villages, most particularly in Auckland. There have not been any cases of Covid-19 in Summerset villages to date.