Summerset snaps up another NZ Wellington site

Company News

by Jessica Amir

Summerset Group Holdings (ASX:SNZ) has purchased its fifth property in Wellington in New Zealand.

The NZ retirement village and aged care service provider snapped up the 6-hectare site in Northern Wellington.

Summerset says the land is well suited to a retirement village, which is rare to find.

The company plans to build over 290 homes on the site along with hospital care facilities.

The site will house its award winning dementia care apartments, which offer a safe environment for those suffering with the illness.

Shares in Summerset Group Holdings (ASX:SNZ) traded at $4.59 on 5 September. 

 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.