Ryman Healthcare Investor News

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Northwood site for Ryman Healthcare

Written by David King
on November 21, 2019


Fast-growing suburb to get a new Ryman community

Ryman Healthcare is planning to build a new retirement village at Northwood in Christchurch.

Ryman, which has been providing retirement living and care in Christchurch since 1984, has applied for Overseas Investment Office approval to acquire a 12.9-hectare site adjacent to the Northwood residential development.

The Main North Road site is across the road from the Northwood Supa Centre and will cater to the needs of retirees in the fast-growing northern suburbs.

Ryman Acting Chief Development Officer Jeremy Moore said it was a large attractive site near the Styx River and the $149 million village was likely to be a valuable addition to the area.

“We think it is a great site with a peaceful outlook and is also close to shops and amenities.

“The northern suburbs of Christchurch have seen strong growth for two decades, and we know people love living in the area," Jeremy said.

“The village means local people can choose from new retirement living options with the comfort of knowing there is care on site."

The Northwood site is likely to include a care centre with residential aged care, including resthome, hospital and dementia care. It will include serviced apartments and independent townhouses and apartments.

“The village will provide construction jobs during the building phase and a significant number of permanent jobs once it is operating."

Ryman has been providing retirement living and care for 35 years and has been voted the Most Trusted Brand in the aged care and retirement sector in New Zealand five times.

Ryman was founded by Christchurch’s Kevin Hickman and John Ryder, and now has 36 villages in New Zealand and Victoria.

Ryman Chief Sales and Marketing Officer Debbie McClure said naming suggestions were welcome.

Ryman operates seven villages in Christchurch and Rangiora. They are Essie Summers (Beckenham), Anthony Wilding (Aidanfield), Ngaio Marsh (Papanui), Margaret Stoddart (Riccarton), Diana Isaac (Mairehau), Woodcote (Hornby), and Charles Upham (Rangiora).

“There’s nothing like a bit of local knowledge and we’ve found over the years that the best suggestions come from the people who know the place well. We have already honoured some great Cantabrians, and we’d love to hear any suggestions and to name it in honour of a respected local."

The purchase is conditional on Ryman being granted consent to acquire the land under the Overseas Investment Act. The Northwood site would be Ryman’s third new site purchase in Christchurch this year. In May Ryman announced it had purchased a site at Bishopspark overlooking Hagley Park, and a new site adjacent to Riccarton Racecourse.

About Ryman:

Ryman was founded in 1984 and has become one of New Zealand’s largest listed companies. The company owns and operates 45 retirement villages in New Zealand and Australia which are home to more than 13,200 residents and the company employs 6,700 team members.

For investor relations information and enquiries:

Contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602) or email david.king@rymanhealthcare.com.

Share registrar:

Our share register is managed by Link Market Services. Please send a change of personal details or any questions about dividends to enquiries@linkmarketservices.co.nz or phone +64 9 375 5998.

For media information or images:

Contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602) or email david.king@rymanhealthcare.com

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