Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Summerset gains consent for $55M New Plymouth village

Summerset gains resource consent for $55M retirement village in New Plymouth

Feb. 14 (BusinessDesk) – Summerset Group Holdings, whose shares have made more than twice the NZX 50 Index’s gains in the past 12 months, said it gained resource consent to build a $55 million retirement village in New Plymouth.

The Wellington-based company plans to build about 150 units on the 4 hectare Carrington Road site ranging from townhouses and villas to care apartments and rooms. It acquired the site last August.

Shares of Summerset rose 1.5 percent to $3.34 and have gained 35 percent in the past 12 months, while the NZX 50 rose 15 percent. The stock is rated a ‘hold’ based on the consensus of five analysts polled by Reuters, with a media price target of $3.55.

The company is scheduled to release its full-year earnings on Feb. 25 and is expected to post a 68 percent gain in profit, according to brokerage First NZ Capital.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade & Retail: Chinese Disaster Spells Quiet Season For NZ Fireworks Sales

In August, two massive explosions at a warehouse at the port in the port of Tianjin, Northern China, killing more than a hundred people and devastating large areas of the city. In the wake of the disaster, Chinese authorities rushed to regulate the distribution of all dangerous goods... More>>



Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news