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

 


Ryman announces second $100M village in as many months

Ryman announces second $100M village in as many months

By Jonathan Underhill

June 26 (BusinessDesk) - Ryman Healthcare, which posted a 43 percent jump in full-year profit in May, plans to build a $100 million retirement village in Pukekohe, the second development of that magnitude it has announced in as many months.

The village on a 6.58 hectare site on Valley Road is expected to open next year, the nation's largest rest home operator said in a statement. It will include two and three-bedroom townhouses, apartments and an aged care centre with hospital level care and a dementia unit.

The Christchurch-based company said last month it would spend more than $100 million on a retirement village on a 5.5 hectare site in Melbourne’s eastern suburbs, the second such facility in the Victorian state capital.

Ryman owns and operates 27 retirement villages housing 7,500 residents. Like other retirement village developers and operators, Ryman is looking to latch on to an ageing demographic, and has increased its annual building target to 850 beds and units a year in New Zealand by 2017, from a rate of 700 a year.

The company cites a Statistics New Zealand estimate that the number of kiwis aged 75 and above will nearly triple to 731,000 in the next 30 years.

Ryman shares last traded at $8.43. In the past five years they have soared 441 percent, outpacing the NZX 50 Index's 84 percent gain. The stock is rated a 'hold' based on the consensus of six analysts polled by Reuters with a median price target of $8.25.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Restrictions Lifted: No Further Tau Flies Found

The Ministry for Primary Industries (MPI) confirms that all restrictions on the movement of fruit and vegetables in Manurewa, Auckland, due to the Tau fly, have been lifted as of 2.26pm on Sunday 7 February. More>>

Crowdfinding: Awaroa Beach To Become Public Land If Appeal Succeeds

Conservation Minister Maggie Barry says a privately-owned beach will become part of the Abel Tasman National Park if an online crowdfunding campaign to buy it succeeds... More>>

ALSO:

Meat Workers Union: Waitangi Mondayisation Flaunted By Large Employer Of Maori

At the AFFCO Talley owned meat plant in Rangiuru, the company has resorted to bullying and threats... saying they could be disciplined and their union sued for an unlawful strike if workers exercise their rights to a paid day off tomorrow. More>>

Earlier:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news