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Summerset Group Holdings Limited (NZX: SUM) 4Q20 Metrics - Sales of Occupation Rights

Monday 11th January 2021

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Summerset Group reports 296 sales of occupation rights for the quarter ending 31 December 2020, comprising 176 new sales and 120 resales.

Summerset CEO Julian Cook said the team continues to focus on executing the strategy and he was pleased to see that this was the strongest quarter sales result in Summerset’s 23-year history.

“We are very pleased with these results and have a strong pipeline of sales for Q1, 2021,” Mr Cook said.

Mr Cook said Casebrook (Christchurch), Ellerslie (Auckland) and Rototuna (Hamilton) retirement villages were the standout performers in Q4. “We opened the main building at Casebrook in March and have sold 88% of its serviced apartments and memory care centre apartments,” Mr Cook said.

Rototuna’s main building opened in November and the first residents moved into Summerset’s new village in Bell Block (New Plymouth) in December. Mr Cook said 2021 pre-sales were encouraging, particularly at Summerset’s new Kenepuru (Wellington) and Te Awa (Napier) villages. “We have pre-sold over 93% of Te Awa’s villas which are due to be delivered in Q1, 2021,” he said.

In the first half of 2021, Summerset will also open the main building at its Richmond (Nelson) retirement village, providing village facilities, serviced apartments, a care centre and memory care centre.

See the links below for more details:

4Q20 Metrics - Sales of Occupation Rights

Source: Summerset Group Holdings Limited

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