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Metlifecare buys another village

Wednesday 18th July 2007

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Metlifecare has entered into a sale and purchase agreement to buy Merivale Retirement Village in Christchurch.

The Merivale Retirement Village has 61 villas and apartments, plus a further 80 rest home and hospital beds. Set in award-winning gardens, it offers extensive resident amenities and facilities, as well as potential for future development.

"The purchase of Merivale Retirement Village will build Metlifecare's presence in the South Island, complementing our existing village, Metlifecare Oakwoods in Nelson,"
Metlifecare chief executive Richard de Haast said. "We are delighted to now have a premium, boutique village in New Zealand's second largest city."

Settlement date is September 3 and Metlifecare will work closely with the owner to ensure the transition for residents and their families, staff and suppliers is seamless, he says.

Metlifecare's portfolio has increased from 15 to 16 villages with the number of villas and apartments growing from 2,278 to 2,339.

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