Sharechat Logo

Radius Residential Care Limited (NZX: RAD) Christchurch Property Development Update

Wednesday 7th April 2021

Text too small?

Radius Residential Care Limited is pleased to announce that it has exercised its right to acquire c. 4.3 hectares of development land in Belfast, Christchurch. Resource consent has been issued by Christchurch City Council for a new integrated aged care and retirement village facility totaling 70 care beds, 30 care suites and 94 retirement village units to be constructed on the property. An independent valuation obtained by Radius Care from CBRE has confirmed that the property’s fair value exceeds the purchase price of the property (including the price to Radius Care of its right to acquire the property).

Settlement of the acquisition is expected to take place between December 2021 and March 2022, with the balance of the purchase price for the property (being $5.5 million) payable on settlement. Following exercise of its right to acquire the property, Radius Care is now in a position to progress the final facility design, obtain building consents and commence construction contracting discussions in relation to this development.

Please see the link below for details:

Chch Dev Property Update

Source: Radius Residential Care Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

24th January 2022 Morning Report
ArborGen Holdings Limited (NZX: ARB) Updates Market on FY22 Guidance
My Food Bag Group Limited (NZX: MFB) Q3 FY22 Trading Update
ikeGPS Group Limited (NZX: IKE) signs $0.9m deal with tier-1 electric utility
Tower Limited (NZX: TWR) Update on Tonga Volcanic Eruption and Tsunami Event
21st January 2022 Morning Report
Trade Window Holdings Limited (NZX: TWL) TradeWindow and Mastercard teams up
Genesis Energy Limited (NZX: GNE) FY22 Q2 Performance Report
Seeka Limited (NZX: SEK) Seeka announces dividend of 13 cents per share
20th January 2022 Morning Report