Growth with purchase of Mt Eden Gardens Retirement Village

Media Release

Arena Living grows with purchase of Mt Eden Gardens Retirement Village

Arena Living’s portfolio of quality lifestyle villages has grown to six, with the purchase, for an undisclosed sum, of the Mt Eden Gardens retirement village, in the heart of one of Auckland’s best central suburbs.

Mt Eden Gardens is a boutique 36-apartment village located on Mt Eden Road, just south of the village and cafes that sit at the foot of the suburb’s iconic mountain.

It becomes Arena Living’s sixth village nationwide, and the first in central Auckland*. It’s also the first village acquired by Arena Living since it was formed in 2016, following the acquisition of Lend Lease’s New Zealand retirement village portfolio by global asset management firm Blackstone.

Arena Living CEO Richard Davis says Mt Eden Gardens fits the company’s vision of enriching the lives of its residents with thriving communities, and easy access to top facilities and activities.

“Mt Eden Gardens has a reputation as an excellent retirement village. Its unique central Auckland location and the quality of services it provides to its residents make it a welcome addition to the Arena Living family.”

Mr Davis says Arena Living has spent the previous two years improving its five other villages and ensuring it is resourced to deliver better living experiences for all of its residents. Major building projects, refurbishments and ground upgrades, along with establishing a strategic leadership team, and streamlining processes within the company have all been key to ensuring the company is in a strong position to be able to deliver world class retirement living in New Zealand.

“When Blackstone purchased Lend Lease’s five retirement villages in 2016, the intention was to create a standalone New Zealand-based business committed to delivering world class senior living. We have transformed the management of the five original villages, alongside a continual programme of investment and improvements.

“Our first major milestone was the introduction of a Fixed-for-Life levy in July 2017. This transition to a fixed levy has given our residents a greater level of financial certainty and removed the worry of increasing costs of living. The new levy was approved by 98.9% of residents across all five villages, which is an overwhelming majority. And the feedback we have received to date across all aspects of village life has been very positive.

“Our goal is always to enable our residents to relax and enjoy their lives, while we take care of the rest.”

Before returning to New Zealand from the United Kingdom to take up the helm at Arena Living, Mr Davis was CEO of LifeCare Residences UK and Board Chair of the Associated Retirement Community Operators. He has previously held senior roles at Metlifecare in New Zealand.

“Our industry is growing rapidly as Kiwis live longer and seek an environment where they can enjoy independent living, friendship, freedom and privacy. Arena’s point of difference is our focus on high
quality, and we’ll continue to look for opportunities that help us meet the strong demand for quality lifestyle options.”

Arena Living is a member of the Retirement Villages Association of NZ, which represents 95% of the industry. Members adhere to a legislated Code of Practice set out in the Retirement Villages Act 2003.

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*Arena Living’s six village locations:
1. Mt Eden Gardens, 467 Mt Eden Rd, Mt Eden, Auckland
2. Knightsbridge Village, 21 Graham Collins Dr, Windsor Park, North Shore
3. Mayfair Village, 14 Oteha Valley Rd, Northcross, North Shore
4. Parklane Village, 106 Becroft Dr, Forrest Hill, North Shore
5. Peninsula Club, 441 Whangaparaoa Rd, Stanmore Bay
6. Ocean Shores Village, 80 Maranui St, Mt Maunganui

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