1Q22 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 April 2022


1Q22 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 279 sales for the quarter ending 31 March 2022,
comprising 167 new sales and 112 resales.
Summerset CEO Scott Scoullar said this was the company’s second highest quarter on record
and highest ever Q1.
“Despite the challenges the Omicron outbreak has posed right around New Zealand, sales
continue to be extremely strong, with 2022 having our best ever Q1 for both new sales and total
sales.”
“We have good diversification of sales across the country with 55% of sales coming from outside
the Auckland, Wellington and Canterbury regions,” said Mr Scoullar.
Uncontracted new stock remains low at 251 units across the country, including only 63 villas
available nationwide.
Summerset starts construction at three new sites in 2022, Blenheim (Marlborough), Cambridge
(Waikato) and Waikanae (Kapiti Coast) and will continue construction at 13 other sites around
New Zealand. Construction began last year at Summerset’s first Australian site, Cranbourne
North in Melbourne.
“We continue to build on a large number of sites simultaneously and remain the largest New
Zealand constructor in the New Zealand retirement village sector,” said Mr Scoullar.
“It’s really pleasing to see our plans in Australia taking shape. Cranbourne North is well
underway, and we have land for four other proposed villages in Victoria. We’re really excited to
introduce older Australians to our high-quality integrated model of village living.”
ENDS

YTD22 SALES OF OCCUPATION RIGHTS

1Q22

New sales 167
Resales 112
Total 279


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


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 Louise McDonald
Chief Financial Officer Senior Communications Advisor
will.wright@summerset.co.nz louise.mcdonald@summerset.co.nz
021 490 251 021 246 3793


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 37 villages completed or in development at Aotea, Avonhead, Bell Block,
Blenheim, Cambridge, Casebrook, Cranbourne North (Australia), 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), Kelvin Grove (Palmerston North),
and four properties in Victoria, Australia, bringing the total number of sites to 46.

• Summerset provides a range of living options and care services to approximately 7,000
residents.