Summerset Expands with New Napier Retirement Village

Summerset Group Holdings Limited (DE:20S) has released an update.

Summerset Group Holdings Limited has expanded its New Zealand retirement village portfolio with the acquisition of a 10.9ha site in Mission Hills, Napier, which will house the company’s fifth village in the Hawke’s Bay region. This new development, expected to be completed from FY27, will offer around 300 units and a variety of facilities, catering to the area’s increasing retiree population. The announcement follows Summerset’s recent financial results, showing a 3% increase in underlying profit to $89.9 million.

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