Village to fill ‘gap in the market’

Another retirement village could be built in the region, after Summerset announced last month that it has purchased land in the Milldale subdivision in Wainui.

The land purchase is subject to Overseas Investment Office approval.

Summerset expects to spend more than $200 million building the village.

The proposed retirement village will feature approximately 290 homes, including two and three-bedroom villas, apartments, serviced apartments, rest home and hospital level care and a memory care centre for people living with dementia.

Announcing the land purchase, Summerset chief executive Julian Cook said that while the Hibiscus Coast is already a popular retirement area, the number of care beds available is below the national average.

“We can see a gap in market for retirees who want to move from independent living to care centres within the same village, but also in the number of care beds available in the area overall,” Mr Cook said.

He says the company plans to have more than 40 beds in the care centre as well as around 75 serviced and memory care apartments. Memory care apartments offer people living with dementia one-bedroom apartments in a secure environment.

Population forecasts show a 50 percent increase in the number of people aged 75 years and over living in the Hibiscus Coast area by 2028.


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