Oceania Healthcare Purchases Auckland Property

OCEANIA HEALTHCARE PURCHASES AUCKLAND PROPERTY Oceania Healthcare announced that it has entered into an unconditional agreement to acquire 8,945m2 of vacant land located at 14-22, 28 & 30 Waimarie Street, St Heliers, Auckland. It is intended that settlement will occur on 22 December 2017. Oceania will develop an integrated Aged Care and Retirement Village facility on the land which has wide views over Auckland's harbour. Work on obtaining planning approvals will commence immediately. This is Oceania Healthcare's first greenfield acquisition and adds to its substantial brownfield development pipeline, which will maintain development activity for 7-8 years into the future. Oceania's CEO, Earl Gasparich, noted that the property is in an excellent location with strong demand for Aged Care and Retirement Village living. ENDS End CA:00312048 For:OCA Type:TRANSACT Time:2017-12-18 08:30:06