Summerset Purchases Land in Rangiora and Blenheim

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz


NZX & ASX RELEASE

25 March 2019

SUMMERSET PURCHASES LAND IN RANGIORA AND BLENHEIM

Summerset has purchased land to build retirement villages in Rangiora, north of Canterbury,
and Blenheim.

Summerset is one of the leading operators and developers of retirement villages in New Zealand,
with 25 villages completed or in development across the country.

The Rangiora village will be Summerset’s fourth village in Canterbury and will offer over 300
independent living homes. It will be located on nine hectares of land at 141 South Belt Road, just
over two kilometres from Rangiora’s town centre.

The Blenheim village, located on six hectares on Old Renwick Road, will be Summerset’s first in
Marlborough and Blenheim’s largest retirement village. The village will be made up of over 200
independent living homes.

Both villages will include two and three-bedroom villas, serviced apartments, rest home and
hospital level care, and a memory care centre for people living with dementia.

Summerset CEO Julian Cook said Summerset was pleased to add suitable properties in the
South Island.

“We’re delighted to bring our brand of popular retirement living to both towns. Rangiora and
Blenheim are both highly rated as places to retire in New Zealand.”

Mr Cook said Waimakariri District’s 75+ population was forecast to increase by 30% and
Blenheim’s 26% over the next four years.

Total investment in both villages combined will exceed NZ$250 million and more than 600
people will be employed across the two sites during the building phase. Another 40 jobs per
village will be created once the villages are operational.

Both land purchases are subject to Overseas Investment Office approval.

Summerset reported its 2018 financial results last month, announcing a NZD$98.6 million
underlying profit for the year.

ENDS

For investor relations enquiries: For media enquiries:
Scott Scoullar Jenny Bridgen
CFO & Deputy CEO Communications Manager
scott.scoullar@summerset.co.nz jenny.bridgen@summerset.co.nz
04 894 7320 or 029 894 7317 021 408 215


ABOUT SUMMERSET

 Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 25 villages completed or in development across the country.
 Summerset has 11 sites for development in Milldale (Auckland), Parnell (Auckland), St
Johns (Auckland), Rangiora (Canterbury), Waikanae (Kapiti Coast), Blenheim
(Marlborough), Te Awa (Napier), Pohutukawa Place (New Plymouth), Papamoa
(Tauranga), Kenepuru (Wellington) and Lower Hutt (Wellington), bringing the total number
of sites to 36.
 It provides a range of living options and care services to more than 5,000 residents.
 New Zealand’s largest builder of retirement units in 2018.
 Silver Award winner in the Reader’s Digest Quality Service Awards 2019.
 The Summerset Group has villages in Aotea, Avonhead, Casebrook, Dunedin, Ellerslie,
Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Levin, Manukau,
Napier, Nelson, New Plymouth, Palmerston North, Paraparaumu, Richmond, Rototuna,
Taupo, Trentham, Wanganui, Warkworth and Wigram.