Ryman Healthcare acquires blue-chip Orewa site

November 30, 2006

Ryman Healthcare acquires blue-chip Orewa site

Listed retirement village operator Ryman Healthcare today announced that Orewa will be home to their 20th retirement village.

Ryman has acquired St Emilion Ltd - the owner of a 4.8 hectare site on Ambassador Glade, in a blue-chip location within the Orewa township.

"The site will feature panoramic views over the township and Whangaparoa Bay, and is within easy walking distance of the main shopping centre," Ryman development manager Ray Versey said today.

"We are delighted to be able to secure such an outstanding site, in what is one of NZ's fastest growing regions."

Ryman plan to develop a fully integrated retirement village, comprising independent and serviced apartments, a village centre and care facilities. On completion, the village will provide quality retirement living for up to 300 residents.

Ryman is preparing to open three new villages in the next year, in Christchurch, Palmerston North and Remuera, to add to its existing portfolio of fourteen villages.

The company recently announced that its landmark Remuera village in Abbotts Way is to be named after Sir Edmund Hillary.

Ryman is a six times winner of the Australasian Aged Care Housing Award for Best Retirement Village in New Zealand.

The company provides homes and care services to more than 2800 New Zealanders, employing more than 1400 staff.

ENDS

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