Ryman sold former Wellington teachers college to Gibbons Co for $23m

The Karori site is the second property Gibbons Co has bought off Ryman. (Image: CBRE)

Thu, 29 May 2025

Ryman Healthcare has sold Wellington land formerly owned by Victoria University for $5 million less than what it bought it for to property developer Gibbons Co. The listed retirement village and aged care firm reported full-year earnings to March 31 on Thursday. In the financial statements, Ryman disclosed it had signed a conditional sales and purchase agreement for the Karori site at a price of $23m.The former teachers' college site in Karori was transferred from the Ministry of Education to Victoria University for $10 in 2014. &...

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