Summerset Purchases Additional Land for Casebrook Village

NZX & ASX RELEASE 13 NOVEMBER 2017 SUMMERSET PURCHASES ADDITIONAL LAND FOR CASEBROOK VILLAGE Summerset today announced it has purchased additional land adjacent to its Casebrook village in Christchurch. Summerset CEO Julian Cook said the purchase of 2.1ha in Cavendish Road would provide for an additional 71 villas at its Casebrook village. "We are seeing strong enquiry for our Casebrook village, which is currently under construction, with the first homes available to move into in March next year. We are excited to be able to secure this land to provide more homes for Canterbury retirees," he said. On completion, Summerset on Cavendish will now offer over 340 homes, including two and three bedroom villas and serviced apartments. There will also be rest-home and hospital level care as well as our first memory care centre in Christchurch. Summerset's innovative, award winning memory care concept means people living with dementia have their own one bedroom apartment complete with living space and bathroom in a secure environment. "We were the first aged care operator in New Zealand to launch this style of apartment living for those with dementia. Our first memory care centre opened in Levin last November," Mr Cook said. "These centres provide residents with the dignity and respect of having their own home within a secure centre, purpose designed for their needs." ENDS For investor relations enquiries: Scott Scoullar Chief Financial Officer scott.scoullar@summerset.co.nz 04 894 7320 or 029 894 7317 For media enquiries: Michelle Brooker Senior Communications Advisor michelle.brooker@summerset.co.nz 04 830 1106 or 021 225 9624 End CA:00310194 For:SUM Type:TRANSACT Time:2017-11-13 08:43:57