2Q21 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 July 2021


2Q21 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group reports 270 sales for the quarter ending 30 June 2021, comprising 154 new
sales and 116 resales.
Summerset CEO Scott Scoullar said it was a record Q2 result for both new sales and resales
and the best half-year result in the company’s history, with 545 sales achieved in the six months
to 30 June.
“That’s nearly 50 percent higher for the half than our best pre-COVID total sales result and also
5% higher than we achieved in the second half of last year,” Mr Scoullar said.
“Demand continues to be strong for both new sales and resales. We have seen good
diversification of sales across the country with 70 percent of new sales coming from four
villages: Casebrook (Christchurch), Ellerslie (Auckland), Rototuna (Hamilton) and Te Awa
(Napier).”
Since Q1, Summerset’s waitlist for people looking to enter a Summerset village increased by a
further 8 percent.
Mr Scoullar said Summerset had pre-sold all independent living units being delivered in Q3 at
the Bell Block (New Plymouth), Hobsonville (Auckland) and Te Awa villages, as well as 80
percent of those available at Rototuna.
More than half the new units delivered in the second half would be serviced apartments, memory
care apartments and care beds and suites. These typically take longer to sell than villas and
independent living apartments as they are needs based, and it was therefore expected sales in
the second half of the year would be marginally lower than the first half, Mr Scoullar said.
The biggest delivery in Q3 would be the $54 million, 10,500m
2
main building at Avonhead
(Christchurch), home to serviced apartments, a care centre and a state-of-the-art memory care
centre, as well as resident amenities such as a swimming pool, gym and café.
“These main buildings are an integral part of all new Summerset villages and this will be the
second we have delivered this year. They’re a key part of our continuum of care model, which is
all part of bringing the best of life for our residents,” Mr Scoullar said.
ENDS

YTD21 SALES OF OCCUPATION RIGHTS

1Q21

2Q21
New sales 148 154
Resales 127 116
Total 275 270


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.



For investor relations enquiries: For media enquiries:
Scott Scoullar Jenny Bridgen
Chief Executive Officer 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 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 6,200 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.