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


ElderCare Settles Purchase of New Auckland Site

Media Release
11 October 1999

ElderCare Settles Purchase of New Auckland Site

Auckland – Monday, 11 October 1999 – ElderCare has confirmed the settlement of purchase for the 4.2 hectare Chelsea Rosedale Road site on Auckland’s North Shore for $2.5 million.

The Chelsea site will be used to build a 100-bed hospital and assisted living units for elderly people.

ElderCare Chief Executive Officer, David Lowry says, “the Chelsea purchase fits our strategy going forward of acquiring and developing purpose built facilities that complement our Continuum of Care approach. This approach provides elderly people with different levels of care in the same location as their needs gradually change.

“Chelsea occupies a prime location, adjacent to the site of an independent, private retirement village which will have 156 villas and 80 apartments. In addition, as the hospital will only take up a quarter of the site ElderCare has the option to use the land for future development.”

Once completed, the hospital will increase the number of beds under ElderCare management to 870. Construction is expected to begin in March 2000.

Company Background

ElderCare New Zealand Limited, (NZSE: ELD) is a retirement care provider. The Company owns a substantial portfolio of nursing homes and assisted living facilities throughout New Zealand at which they offer broad and varied services for the healthcare needs of elderly people.


© Scoop Media

Business Headlines | Sci-Tech Headlines


'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>


Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>


GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>


Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>