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

 

Ryman secures 4.5ha site in Henderson

Ryman secures 4.5ha site in Henderson for village targeting retiring Westies

By Jonathan Underhill

June 16 (BusinessDesk) – Ryman Healthcare, whose retirement village portfolio was valued at $3.66 billion as at March 31, has secured a 4.5 hectare site in Henderson, West Auckland to target retiring Westies it says are under-supplied with options.

No price was disclosed for the site, which is currently part of Laidlaw College’s Henderson campus. Ryman plans to develop “a resort-style retirement village which will be home to more than 400 residents,” development manager Andrew Mitchell said in a statement. “We think there’s a real shortage of retirement living options housing in the area – and demand will only increase as the retired population grows,” he said, adding that more than 107,000 people lived in the Henderson-Massey area, including more than 10,000 retirees.

The village would be Ryman’s 11th in greater Auckland, adding to developments at Hobsonville, Greenlane, Lynfield and Devonport and existing villages in St Heliers, Remuera, Howick, Pukekohe, Birkenhead and Orewa. Ryman has 31 existing villages, with 13 at varying stages of development, including its forays across the Tasman. The company had previously identified the West Auckland site as 'Site B'.

In May, Ryman posted a record annual profit, extending 15 years of earnings growth. Shares of Ryman last traded at $8.33 and have gained 2.7 percent this year. The stock is rated a ‘hold’, based on a Reuters poll, with a median price target of $8.51.

(BusinessDesk)

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: