Archived News - 2013
Summerset Investing Nearly $200m at Two Christchurch Sites
Retirement village and aged care operator Summerset announced today it has purchased two Christchurch sites on which to develop villages, investing around NZ$200 million into retirement living for older Cantabrians.
The sites are located in Casebrook and Wigram. They will be the company’s first Christchurch villages.
The company intends to build more than 200 townhouses and villas for independent living, and care apartments for those with more advanced needs at the Casebrook village. The village will be located on a 9.7ha site in Casebrook, which is an up-and-coming area in the north of Christchurch, where significant development is proposed.
Summerset CEO Norah Barlow collects two awards
Summerset CEO Norah has won two significant awards in the last week. The first was for Most Outstanding Contributor to Over 50s Housing 2013 presented at an awards ceremony in London on Thursday night. The other was Wellingtonian of the Year in the business category.
The two awards top a busy period not just for Mrs Barlow, but for Summerset, which was named Best Retirement Village Operator in Australasia for the fourth year running, received the green light to build a NZ$120 million waterfront retirement village in Hobsonville, Auckland, and started work on a NZ$70 million retirement village in Karaka, Auckland in the last few weeks. Mrs Barlow also received two awards at the Women in Governance Awards in July.
Summerset Named Best in Australasia Forth Year Running
Summerset has been recognised as the best retirement village operator in Australasia for the fourth year in a row.
Almost 80 retirement village operators across Australia and New Zealand were judged for the award. Between them they operate more than 1200 retirement villages.
Premiere $120 million retirement village gets green light
A $120 million retirement village is to be built on an unrivalled location on Hobsonville’s waterfront.
Retirement village operator Summerset has received Environment Court Approval to build its proposed retirement village, which will be home to around 350 residents on completion.
This comes after Summerset was declined by Auckland Council earlier this year on their resource consent application. Summerset has worked with Council over the past few months, prior to the Environment Court Hearing, to reach agreement on an amended design that met both the needs of Auckland Council’s vision for the area and Summerset’s retirement village proposals. This was successfully concluded in October with all previous appellants withdrawing and the Environment Court supporting the agreed proposal.
The 7.6 hectare village will consist of approximately 225 homes including villas, apartments, care apartments, and a 90-bed Care Centre providing rest home and hospital-level care. The site has 180-degree views of Waitemata Harbour out to Herald Island. The village will be named Summerset at Monterey Park, as it was once the site of the eponymous tourist theme park.
Summerset to Commence Construction in Karaka
Summerset has announced a $70 million retirement village for the Counties-Manukau area of Karaka.
The retirement village operator has been granted resource consent for the initial phase of the village, which will comprise some 125 villas, townhouses, apartments and care apartments on a 3.6ha site at Hingaia Road, Karaka. It will also offer rest home and hospital-level care. The company has a further 1.2ha adjacent to the site which would allow for further expansion subject to resource consent.
CEO Norah Barlow Interview - Nine To Noon
Norah Barlow is stepping down after 12 years at the helm of Wellington-based Summerset. During that time, the company has gone from being a small family business to New Zealand's third-largest retirement village operator and second largest developer. She is also the immediate past president of the Retirement Villages Association of NZ.
Summerset farewells and welcomes key personnel
Summerset’s Managing Director and Chief Executive Norah Barlow is to retire in the first half of 2014 after leading the company for the last 12 years. She will remain as a director on the Summerset Board.
Rob Campbell, Summerset’s Chairman, said “Norah has been, and continues to be, an outstanding Chief Executive Officer with the full support of the Summerset Board. She has been involved in Summerset since its inception in 1997 and has led the company since 2001. She has taken the company from a small family business to New Zealand’s third largest retirement village operator and second largest developer, with a market capitalisation of approximately $650 million and over $750 million in assets. Norah has accomplished a huge amount and we look forward to her continued contribution on the Board.”
Mrs Barlow said she has been involved with the business for a long time and that now is the right time for her to move to a governance position: “Summerset is performing very well, is now listed on both the NZX and ASX, is growing rapidly, and I am confident that the platform is well established for continued success.