4Q20 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

11 January 2021


4Q20 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reports 296 sales of occupation rights for the quarter ending 31 December
2020, comprising 176 new sales and 120 resales.
Summerset CEO Julian Cook said the team continues to focus on executing the strategy and he
was pleased to see that this was the strongest quarter sales result in Summerset’s 23-year
history.
“We are very pleased with these results and have a strong pipeline of sales for Q1, 2021,” Mr
Cook said.
Mr Cook said Casebrook (Christchurch), Ellerslie (Auckland) and Rototuna (Hamilton) retirement
villages were the standout performers in Q4.
“We opened the main building at Casebrook in March and have sold 88% of its serviced
apartments and memory care centre apartments,” Mr Cook said.
Rototuna’s main building opened in November and the first residents moved into Summerset’s
new village in Bell Block (New Plymouth) in December.
Mr Cook said 2021 pre-sales were encouraging, particularly at Summerset’s new Kenepuru
(Wellington) and Te Awa (Napier) villages.
“We have pre-sold over 93% of Te Awa’s villas which are due to be delivered in Q1, 2021,” he
said.
In the first half of 2021, Summerset will also open the main building at its Richmond (Nelson)
retirement village, providing village facilities, serviced apartments, a care centre and memory
care centre.
ENDS


FY20 SALES OF OCCUPATION RIGHTS

1Q20 2Q20 3Q20 4Q20 FY20
New sales 70 58 100 176 404
Resales 71 65 125 120 381
Total 141 123 225 296 785

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

NOTES:
• 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.


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


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 31 villages completed or in development across the country. In addition,
Summerset has nine sites for development in Half Moon Bay (Auckland), Milldale
(Auckland), Parnell (Auckland), Prebbleton (Canterbury), Rangiora (Canterbury),
Waikanae (Kapiti Coast), Blenheim (Marlborough), Cambridge (Waikato) and Lower Hutt
(Wellington), plus two sites in Victoria, Australia, bringing the total number of properties to
42.

• It provides a range of living options and care services to more than 6,000 residents.

• The Summerset Group has villages in Aotea, Avonhead, Bell Block, Casebrook,
Dunedin, Ellerslie, Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati,
Kenepuru, Levin, Manukau, Napier, Nelson, New Plymouth, Palmerston North, Papamoa
Beach, Paraparaumu, Richmond, Rototuna, St Johns, Taupo, Te Awa, Trentham,
Wanganui, Warkworth, Whangarei and Wigram.