4Q19 Metrics – Sales of Occupation Rights

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

10 January 2020

4Q19 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 209 sales for the quarter ending 31 December 2019, comprising 116
new sales and 93 resales.
Summerset CEO Julian Cook said the results were pleasing with new sales for the quarter being
the strongest in three years and the second highest ever for the Group.
Mr Cook said the result was boosted by strong sales in Summerset’s three newly opened
villages in Avonhead (Christchurch), Richmond (Nelson/Tasman) and Kenepuru (Wellington).
“We welcomed our first residents to Kenepuru in December, having pre-sold nearly all of the first
stage,” Mr Cook said.
Summerset’s 2019 build programme delivered 354 retirement units. The main buildings in both
Casebrook and Rototuna are well progressed and due for completion in 2020.
“We’ve seen strong pre-sales of serviced apartments in Casebrook’s main building which will
open in the first quarter of this year,” said Mr Cook.

FY19 SALES OF OCCUPATION RIGHTS

1Q19 2Q19

3Q19

4Q19

FY19

New sales 71 65 77 116 329
Resales 66 76 88 93 323
Total 137 141 165 209 652


FY18 SALES OF OCCUPATION RIGHTS

1Q18 2Q18

3Q18

4Q18

FY18

New sales 68 77 82 112 339
Resales 75 79 66 81 301
Total 143 156 148 193 640



NOTES:
• Quarterly metrics on occupation right sales are provided by the 10
th
of the month following the end of each
quarter.
• Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.

• The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.
ENDS

For investor relations enquiries: For media enquiries:
Margaret Delany Jenny Bridgen
Head of Finance Communications Manager
margaret.delany@summerset.co.nz jenny.bridgen@summerset.co.nz
021 558 262 021 408 215

ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 28 villages completed or in development across the country. In addition,
Summerset has 12 sites for development in Milldale (Auckland), Parnell (Auckland), St
Johns (Auckland), Prebbleton (Canterbury), Rangiora (Canterbury), Waikanae (Kapiti
Coast), Blenheim (Marlborough), Bell Block (New Plymouth), Whangarei (Northland),
Cambridge (Waikato), Lower Hutt (Wellington) and Melbourne, Australia, bringing the total
number of sites to 40.
• It provides a range of living options and care services to more than 5,500 residents.
• Silver Award winner of the Reader’s Digest Quality Service Awards in 2019.
• The Summerset Group has villages in Aotea, Avonhead, Casebrook, Dunedin, Ellerslie,
Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Kenepuru, Levin,
Manukau, Napier, Nelson, New Plymouth, Palmerston North, Papamoa Beach,
Paraparaumu, Richmond, Rototuna, Taupo, Te Awa, Trentham, Wanganui, Warkworth
and Wigram.