22 Jul 2015

Summerset buys second block of Auckland land

1:55 pm on 22 July 2015

Summerset has bought another development site in Auckland this week - this time in the eastern suburbs.

The retirement village operator said the 2.5 hectare piece of land, known as Parson's Paddock, was located in the suburb of St John's, which had a large and growing retirement-age population.

The deal follows Summerset's purchase of land next to its existing village in Warkworth, on which it plans to build an additional 77 retirement units.

Summerset chief executive Julian Cook said the latest purchase was part of the company's expansion plan to build 300 new retirement units a year.

The sale price had not been disclosed.

The St John's site was Summerset's sixth site in the Auckland region and 24th in the country.

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