1Q21 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

12 April 2021

1Q21 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reports 275 sales for the quarter ending 31 March 2021, comprising 148 new
sales and 127 resales.
Summerset CEO Scott Scoullar said it was a record Q1 sales result for both new sales and
resales.
“A year on from the first COVID-19 lockdown and we’re continuing to see robust sales. Our
waitlist is up 24 percent on a year ago, and 8 percent on the previous quarter, so we’re seeing
that demand to live in our villages remaining very strong,” he said.
“This is backed up by our top village new sales for the first quarter, which were in our Rototuna
(Hamilton) and Casebrook (Christchurch) villages and were 31 and 26 sales respectively.”
Pre-sales were also positive for the next quarter, with all villas being delivered in the second
quarter at Kenepuru (Wellington) and Bell Block (New Plymouth) pre-sold. In Te Awa (Napier),
22 of the 23 villas being delivered in Q2 have been pre-sold.
Mr Scoullar said there was a good pipeline of new builds to come, including a $170 million
village in Prebbleton – the company’s fourth Canterbury village – which was granted resource
consent in March. It would comprise more than 290 independent homes, as well as the full
continuum of care, including serviced apartments and care rooms, plus a state-of-the-art
memory care centre for residents living with dementia.

YTD21 SALES OF OCCUPATION RIGHTS

1Q21
New sales 148
Resales 127
Total 275

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


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.
ENDS


For investor relations enquiries: For media enquiries:
Tania Smith Jenny Bridgen
Acting Chief Financial Officer Communications Manager
tania.smith@summerset.co.nz
jenny.bridgen@summerset.co.nz
027 579 2577 021 408 215


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 33 villages completed or in development nationwide. In addition,
Summerset has sites for development in Half Moon Bay (Auckland) Milldale (Auckland),
Parnell (Auckland), Rangiora (Canterbury), Waikanae (Kapiti Coast), Blenheim
(Marlborough) and Cambridge (Waikato), plus three properties in Victoria, Australia,
bringing the total number of sites to 43.

• It provides a range of living options and care services to more than 6200 residents.

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