Summerset buys development sites in Christchurch, plans $200 mln investment

Tue, 17 Dec 2013

By Tina Morrison Dec. 18 (BusinessDesk) – Summerset Group, New Zealand’s third-largest listed retirement village operator, plans to invest $200 million to expand into Christchurch where it says villages are in short supply. Summerset has bought a 9.7 hectare site in Casebrook and a 5.4 hectare site in Wigram to develop new villages, the Wellington-based company said in a statement. The two Christchurch sites add to Summerset’s existing development land in Ellerslie, Hobsonville, Lower Hutt and New Plymouth and its 17 New Zealand villages. S...

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