- Operator and developer of retirement villages in New Zealand Summerset Group (SNZ) delivers second highest sales quarter on record
- The company reported 279 sales for the quarter ending March 31, comprising 167 new sales and 112 resales
- Summerset says it is starting construction at three new sites in 2022 and will also continue construction on 13 sites around New Zealand
- In addition, construction began last year at Summerset’s first Australian site in Cranbourne North, in Melbourne
- SNZ shares last traded at $10.58 per share.
New Zealand operator and developer of retirement villages Summerset Group (SNZ) has seen its second highest sales quarter on record.
The company reported 279 sales for the quarter ending March 31, consisting of 167 new sales and 112 resales.
CEO Scott Scoullar said it was Summerset’s best March quarter for both new sales and total sales and the second best overall.
“Despite the challenges the Omicron outbreak has posed right around New Zealand, sales continue to be extremely strong, with 2022 having our best ever first quarter for both new sales and total sales,” he said.
“We have good diversification of sales across the country, with 55 per cent of sales coming from outside the Auckland, Wellington and Canterbury regions.”
Summerset said it was starting construction at three new sites in 2022, at Blenheim, Cambridge and Waikanae, and continuing construction on 13 sites around New Zealand.
Construction also began last year at Summerset’s first Australian site in Cranbourne North, in Melbourne.
“We continue to build on a large number of sites simultaneously and remain the largest New Zealand constructor in the New Zealand retirement village sector,” Mr Scoullar said.
“It is really pleasing to see our plans in Australia taking shape, Cranbourne North is well under way, and we have land for four other proposed villages in Victoria. We’re really excited to introduce older Australians to our high-quality integrated model of village living.”
SNZ shares last traded at $10.58 per share on April 8.