Retirement village operator Summerset has purchased a new site at Ellerslie in Auckland, which will become the company's 19th retirement village.
The village will provide services to the central Auckland isthmus, which Summerset says is an area with a high demand for quality retirement villages and aged care.
Summerset is on track to build 155 retirement units in the 2012 financial year and now plans to build at least 200 retirement units next year.
It has also upgraded its longer term build rate from 250 unit per year to 300 units a year by the 2015 financial year.
The company currently has 1554 units.