NZ Urban Development news from the media | 26 November | Ryman buys two retirement village sites


Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 26 November 2019.

Provided by Rockhopper

Ryman buys two retirement village sites and posts bumper half-year profit of $188.3m

New Zealand's largest retirement village operator Ryman Healthcare has announced the purchase of two new sites for retirement villages and a bumper $188.3 million profit for the half year.

One site is 12.9 hectares in Northwood, Christchurch, across the road from the Northwood Supa Centre and owned by Canadian investors – Public Sector Pension Investment Board (PSPIB) and Canada Pension Plan Investment Board - who bought it in 2014 in a portfolio of properties they bought from AMP Capital.

The purchase is conditional on Overseas Investment Office approval. The Canadian pension funds sold the Northwood Supa Centre early this year to Christchurch investor Miles Middleton for almost $82m.

Infrastructure pipeline growing

Infrastructure Minister Shane Jones is welcoming the first of many updated project pipelines from the newly established New Zealand Infrastructure Commission.

The New Zealand Infrastructure Commission, Te Waihanga, has released an expanded pipeline of major capital projects – another crucial step towards delivering better infrastructure outcomes.

“The first iteration of the pipeline by Treasury included a small number of capital intensive central Government agencies and had a combined worth of $6.1 billion. Today’s updated pipeline has an estimated value of $21.1 billion,” Shane Jones said.

Airport Novotel opening at last

Christchurch Airport's long-delayed Novotel hotel will open to its first guests on Monday.

The $80 million hotel, owned by the airport and to be run by hotel company Accor under its Novotel brand, has 200 rooms plus bar, restaurant and conference facilities.

It was built by Fletcher Building and was originally scheduled to be finished in late 2017 but faced a series of delays and postponed openings. Since the start of November, booked guests have been redirected to other hotels.

Auckland Council puts the former Franklin District Council headquarters and land on the market

Auckland Council has put the former Franklin District Council land and council buildings in Pukekohe on the market for sale.

Its part of its disposal of assets following the merger of several councils to form the super city.

It kicks off the start off an Auckland Council authorised plan for regeneration of the semi-rural town with about 31,000 residents. Council development agency Panuku has appointed Bayleys Real Estate to market the property by tender, closing at 4pm on Thursday December 5.

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