By Christine Nikiel
Friday 21st March 2003 |
Text too small? |
The 1.8323 ha site in Takapuna will be sold for $12.825 million provided Metlifecare gets resource consent for the proposed 250 luxury apartments.
Calan bought the site from the Waitemata District Health Board four years ago, planning to build a private hospital there. It canned the idea, saying that while tenant commitment was good the risk profile of a new start-up was too great at that time.
Metlifecare is banking on Takapuna's pulling power as an attractive place to invest and retire.
Chief executive Gavin Aleksich said market demographics for the North Shore were very attractive and the Takapuna area was "prime real estate and highly sought after."
The sale will boost Metlifecare's already hefty portfolio of retirement villages and care facilities.
In its latest annual report released last week Metlifecare reported sales of new villas and apartments increased 54.5% to $28.9 million, compared to $18.7 million in 2001. Meanwhile, resales of villas and apartments collected $36.9 million, compared with $31.1 million in 2001.
The number of resales also increased from 177 in 2001 to 193 for 2002, with an increased average resale price of 8.6%.
No comments yet
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report
IKE Announces equity raising of A$20 million
Chorus full year results date
FPH 2025 Notice of Annual Meeting and Voting Form
July 10th Morning Report