Summerset's 4Q sales slip; 2018 build target met

Wed, 09 Jan 2019

By Rebecca Howard Jan. 10 (BusinessDesk) - Summerset Group's fourth quarter new sales were down 5.4 percent on a year earlier but it met its 2018 target to build 450 new retirement units. The Wellington-based retirement village operator and developer said it sold 193 occupation rights in the three months to Dec. 31 versus 204 in the prior year. Of those, 112 were new sales, up 5.7 on the year. Resales were down 17 percent at 81, it said. While the resales were down on the year, they were the highest in 2018. “The fourth quarter of 2...

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