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Ryman Healthcare announces new village site

November 24, 2005

Ryman Healthcare announces new village site acquisition in Palmerston North

Listed retirement village operator Ryman Healthcare today announced they had bought land in Palmerston North for their 15th retirement village.

Ryman have bought a 3.2 hectare block of land next to the prestigious Clearview Park subdivision and reserve by the Milson shopping centre on Milson Line.

The site is flat, north facing, with views across to the airport runway. It is close to the central city and public hospital facilities.

Ryman plan to develop a comprehensive retirement village, including 80 independent villas, 50 serviced apartments, with a village centre, indoor swimming pool, all weather outdoor bowling green and numerous other facilities.

Development manager Ray Versey said the site was an ideal location for a village.

``We are thrilled to be able to secure it for the elderly people of Palmerston North,’’ he said today.

``We also plan to build a 40 bed care centre. Ryman will apply to the Palmerston North City Council for resource consent early next year.

Ryman, one of New Zealand’s most experienced retirement village providers, recently reported a half yearly $17.1 million net surplus, up 54 percent on the same period last year.

Ryman is currently building in Auckland, Hamilton, Napier, Wanganui, Lower Hutt and Invercargill. Resource consent applications are being processed for the new Halswell retirement village in Christchurch and for a new apartment block at the Malvina Major retirement village in Wellington.

The company provides homes and care services to more than 2600 New Zealanders, employing more than 1400 staff.

ENDS

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