Summerset Grows New Zealand Portfolio with Two New Sites

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

23 August 2023

SUMMERSET GROWS NEW ZEALAND PORTFOLIO WITH TWO NEW
SITES

Summerset Group today announced the purchase of two new properties in New Zealand –
Rolleston (Christchurch) and Mosgiel (Dunedin).

Summerset Chief Executive Scott Scoullar said it is pleasing to be able to strengthen our
portfolio and secure these key sites in high demand locations.

“We’re pleased to continue to find quality sites to grow our business where we’ll be able to
introduce more New Zealanders to our retirement village lifestyle. Both sites are well appointed
with excellent amenities available to residents and make strong additions to our land bank.”

The announcement comes as the company released its half-year result showing an underlying
profit of $87.2 million, up 5.7% on the same period last year.

The combined investment in the two sites will be in excess of $400 million.

Rolleston, is predicted by Statistics New Zealand to have the highest population growth in New
Zealand over the next 30 years. Rolleston’s attractiveness is driven by its easy access to
Christchurch, and position as the primary satellite town for the Selwyn District. The site is
Summerset’s sixth in the Canterbury region.

The Mosgiel site is 15km west of Dunedin’s city centre and will complement the existing Dunedin
village (Summerset at Bishopscourt). Offering access to a high level of amenities and
recreational areas, the site is also within 3km of Mosgiel town centre’s vibrant shops, cafés,
restaurants and monthly markets.

The new sites will each offer over 300 units and further boost Summerset’s land bank of units,
the largest in New Zealand’s retirement village sector, and gives Summerset enough secured
land to more than double the size of its current New Zealand business.

First deliveries from these sites are expected from FY26 onwards.

Summerset’s site on Lincoln Rolleston Road, Rolleston, Christchurch*




Summerset’s site on Wingatui Road, Mosgiel, Dunedin*

*Boundary lines are indicative only

ENDS


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 38 villages completed or in development nationwide
• In addition, Summerset has six proposed sites at Half Moon Bay (Auckland), Rotorua
(Bay of Plenty), Kelvin Grove (Palmerston North), Masterton (Wairarapa), Rolleston
(Christchurch), and Mosgiel (Dunedin)
• Summerset also has one village in development (Cranbourne North) and six other
properties in Victoria, Australia (Chirnside Park, Craigieburn, Drysdale, Mernda, Oakleigh
South and Torquay)
• Summerset provides a range of living options and care services to more than 7,600
residents