4Q21 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 2022


4Q21 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 234 sales for the quarter ending 31 December 2021,
comprising 121 new sales and 113 resales.
Summerset CEO Scott Scoullar said total sales in 2021 reached 978 up 25% on FY20.
“That’s a new annual sales record for Summerset and comes despite ongoing COVID-19
interruptions. We are seeing good growth in waitlists demonstrating that demand for our offer of
retirement living remains robust,” Mr Scoullar said.
Mr Scoullar said Q4 sales were strong, despite the Auckland and Waikato regions being in
lockdown for much of the quarter.

“We have had good diversification of sales across the country with new units now being sold at
12 of our villages across New Zealand, and additional villages to start selling in 2022,” Mr
Scoullar said.
Uncontracted new stock remains low across the country, particularly for villas.
Approximately 63% of uncontracted new sales stock is made up of the final independent living
apartments at Ellerslie in Auckland and serviced apartments around the country.
Serviced apartments are needs based and typically take longer to sell than villas and
independent living apartments. Ellerslie’s last apartments – housed in the Heritage building –
have been selling well.
Mr Scoullar said the first quarter of 2022 was looking strong with 58% of new deliveries presold.
In 2022, Summerset will start construction at four new sites in Milldale (Auckland), Blenheim
(Marlborough), Cambridge (Waikato), and Waikanae (Kapiti Coast), as well as continuing
construction at another 13 sites around New Zealand and the building of its first Australian units
underway at Cranbourne North (Melbourne).
ENDS

FY21 SALES OF OCCUPATION RIGHTS

1Q21 2Q21 3Q21 4Q21 FY21
New sales 148 154 117 121 540
Resales 127 116 82 113 438
Total 275 270 199 234 978


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 Jenny Bridgen
Chief Financial Officer Communications Manager
will.wright@summerset.co.nz jenny.bridgen@summerset.co.nz
021 490 251 021 408 215


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,
Wanganui, 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.