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New Zealand: Metlifecare plans NZ$240 million waterfront site

Metlifecare, New Zealand’s second-largest listed retirement village operator, plans to spend NZ$240 million (US$167.2 million) to develop a waterfront retirement village at Scott Point, in the Auckland suburb of Hobsonville.

The proposed village is likely to comprise approximately 300 independent living and care units; including one-level coastal villas, two and three level apartments and a homestead model care home.

The company said that while a number of other retirement living options were also being developed in the area, the northwest of Auckland is significantly underserved in retirement and aged care services. “Our projections show that, with the 75+ age demographic predicted to treble in size over the next 20 years, there will be strong and on-going demand. We are also confident that the premium village design and residential living experience offered by Metlifecare will ensure that the new village is highly competitive and sought after,” said CEO Glen Sowry.

The new site will take Metlifecare’s total number of sites to 28, of which 18 are in the Auckland region. Metlifecare is on track to de liver more than 250 new retirement units and care beds in the year to June next year.
Posted on: 23/10/2017 UTC+08:00


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