New Zealand-based Summerset Group Holdings Limited (ASX:SNZ, NZE:SUM) has unveiled plans for a retirement village valued at almost $AUD50 million or $NZ55 million.
The retirement village operator has released the plans for its New Plymouth retirement village poised to eventually become home to more than 240 people.
The first 14 homes are slated for completion next month and residents are expected to move in before Christmas.
CEO Julian Cook says New Plymouth is currently underserved from a retirement village perspective and the village will be an important addition to the community.
Summerset Group Holdings reported a net profit of $14.2 million in the first half of the 2014 calendar year.
