3Q21 Sales 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 October 2021


3Q21 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 199 sales for the quarter ending 30 September 2021,
comprising 117 new sales and 82 resales.
Summerset CEO Scott Scoullar said it was a strong Q3 result for both new sales and resales,
with 744 sales achieved in the nine months to 30 September 2021.
The number of sales to date equate to 95% of full year sales in 2020.
“Sales have continued at pace despite a nationwide lockdown in August and the ongoing
lockdown in Auckland; in particular new sales which were 17% higher than Q3 2020”, Mr
Scoullar said.
“We have good diversification of sales across the country with 83% of sales coming from outside
the Auckland region.”
Mr Scoullar said Summerset had pre-sold all independent living units being delivered over the
next six months at its new Mt Denby retirement village in Whangarei. Just one presale unit
remained at Te Awa (Napier), Casebrook (Christchurch), and Bell Block (New Plymouth)
villages.
Last month, a new 10,500m
2
main building at Avonhead (Christchurch) opened, offering
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.
The main building at Richmond (Nelson/Tasman) which opened in July, has already sold or
contracted 30% of its needs based rooms.
Uncontracted new stock remains low at 291, with villa stock of just 28 units. Uncontracted new
stock as a percentage of the total portfolio was 2.6%, excluding the recently completed
Avonhead and Richmond main buildings.
Construction work has re-started across all 13 building sites nationwide, including Auckland.
“We were pleased to have only two weeks offsite in our building sites outside of Auckland, and
the construction teams have been back onsite in Auckland since 20 September,” Mr Scoullar
said.
ENDS

YTD21 SALES OF OCCUPATION RIGHTS

1Q21 2Q21 3Q21 YTD
New sales 148 154 117 419
Resales 127 116 82 325
Total 275 270 199 744


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:
Will Wright Sharon Lundy
Chief Financial Officer Senior Communications and Media Advisor
will.wright@summerset.co.nz sharon.lundy@summerset.co.nz
021 490 251 021 782 826


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 36 villages completed or in development nationwide at Aotea, Avonhead,
Bell Block, Blenheim, Cambridge, Casebrook, Dunedin, Ellerslie, Hamilton, Hastings,
Havelock North, Hobsonville, Karaka, Katikati, Kenepuru, Levin, Lower Hutt, Manukau,
Napier, Nelson, New Plymouth, Palmerston North, Pāpāmoa Beach, Paraparaumu,
Prebbleton, Richmond, Rototuna, St Johns, Taupō, Te Awa, Trentham, Waikanae,
Whanganui, Warkworth, Whangārei and Wigram.

• In addition, Summerset has proposed sites at Half Moon Bay (Auckland) Milldale
(Auckland), Parnell (Auckland), Rangiora (Canterbury), and Kelvin Grove (Palmerston
North), plus five properties in Victoria, Australia, bringing the total number of sites to 46.

• Summerset provides a range of living options and care services to more than 6,600
residents.