Ryman Healthcare Plans New Retirement Villages At Karaka and Cambridge
May 20, 2021 at 04:31 pm EDT
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Ryman Healthcare has purchased new sites in Karaka and Cambridge to meet growing demand for retirement homes and care. Ryman is New Zealand's retirement village operator and its villages are home to more than 12,500 residents. The new sites in Karaka and Cambridge will help meet growing demand for Ryman's integrated living and care model. Ryman villages offer a choice of independent and assisted living options as well as resthome, hospital and dementia care all on one site. They also include beautiful gardens, indoor pools, cafes and movie theatres. Both villages are in fast-growing areas where housing is in short supply. The villages will free up hundreds of homes in the local housing market. The Karaka property is on a large 10.4-hectare site on Hingaia Road and is 1.5km from Karaka village and 4km from the centre of Papakura. It has views across the countryside to the Hunua Ranges and is well suited to a townhouse development and could eventually be home to more than 350 residents and worth $220 million. The Cambridge site is on 8.6 hectares of rural land west of the town and is part of a larger residential development. It could eventually be home to more than 320 residents and be worth $150 million when completed.
Ryman Healthcare Limited is a vertically integrated retirement-living and aged-care developer, owner and operator. The Company develops, owns and operates integrated retirement villages, rest homes, and hospitals for the elderly within New Zealand and Australia. It provides a range of retirement-living options, including independent apartments and townhouses and assisted living in serviced apartments. Its aged-care offering includes rest homes, hospitals and dementia care. The Company's assisted living offers a range of services, including scheduled transport services and outings, village management and administration, maintaining and operating the community amenities, and gardening and ground maintenance and others. Its one, two and three-bedroom apartments and townhouses offer a neutral color palette. It also offers musical entertainment, fashion shows, arts and crafts, and regular outings. It owns and operates 38 villages across New Zealand and seven in Victoria, Australia.