The news that retirement village developer and operator Summerset has taken a positive step forward with its plans to build a new $100 million retirement village at Boulcott is very welcome news. We have been anticipating a positive step like this for some time and now the project looks to be moving further ahead.
Summerset has completed its due diligence in respect of the purchase of a section of land for a $100 million retirement village in Lower Hutt.
The proposed village will be built on a section of 3.3 ha of land to be acquired from the Boulcott Farm Heritage Golf Club. The contract to acquire the site remains conditional on Overseas Investment Office approval and issuance of title. These are expected to be satisfied sometime during this year.
The new village will contribute to the Lower Hutt economy and meet a demand for retirement living in the valley.
I am very pleassed with the decision by Summerset to proceed.
No comments:
Post a Comment