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New Zealand: Ryman buys former Karori campus

Ryman Healthcare, New Zealand’s largest listed retirement village operator, has bought Victoria University of Wellington’s former Karori campus which will be converted into a retirement village with independent and serviced apartments and a care centre. Although financial terms have not been disclosed, it is estimated to have been sold for NZ$20 million (US$13.8 million).

“We’re absolutely delighted to have secured this site for the retired people of Wellington. It is an iconic site in the city’s largest suburb, and we’re pleased it will continue to be a significant community asset for the city," said Ryman Group development manager Andrew Mitchell.

Ryman plans to convert the campus into a retirement village offering independent and serviced apartment living options as well as hospital, resthome and dementia-level care.

Ryman already owns and operates five retirement villages in greater Wellington which are home to more than 1,750 retirees. Ryman employs more than 600 staff in the region and is a significant contributor to the economy.
Posted on: 13/12/2017 UTC+08:00


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