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

 


Ryman buys Wellington site from Foodstuffs

Ryman buys Wellington site from Foodstuffs for new development

By Paul McBeth

July 3 (BusinessDesk) - Ryman Healthcare, the country's biggest listed retirement village operator and developer, has bought land in Wellington which it plans to turn into a boutique village.

The Christchurch-based company has bought a 6,000 square metre site in Newtown from supermarket operator Foodstuffs for an undisclosed sum, which it will develop into a new village with independent and serviced apartments, and res thome, hospital and dementia care, it said in a statement. The village will be Ryman's sixth in the Wellington area.

"It's a great site with terrific views across the city, and it is close to public transport, shops, and the hospital," managing director Simon Challies said. "Wellington has a rapidly growing ageing population in line with the rest of the country."

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 shares were unchanged at $8.53, and have gained 8.7 percent this year. The stock is rated an average 'hold' based on six analyst recommendations compiled by Reuters, with a median target price of $8.25.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Drones: First Certificate Issued Under New UAV Rules

Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say the first certified flight of an unmanned helicopter under new aviation rules is a great example of how they can enable commercial use. More>>

ALSO:

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news