Mission Hills, one of the most popular sights in Hawke's Bay, will be home to a future Sommerset village within the next few years.
Summerset Group Holdings Limited has announced the purchase of a new site at Mission Hills in Napier, Hawke's Bay.
Summerset Chief Executive Scott Scoullar said it was very pleasing to continue to strengthen the company’s land bank with new land in a very high-demand region.
“We are focused on finding the right land in the right locations so we can meet the growing demand for our retirement village offering,” said Scoullar.
“Napier and the Hawke’s Bay is a highly desirable location to retire in, with a population of 75+, which is expected to grow rapidly over the coming years. Our current villages in Napier, Summerset in the Bay (Greenmeadows) and Summerset Palms (Te Awa), are very popular and have very strong waitlists.”
Summerset’s Mission Hills site is a 10.9ha broad acre site and will be the company’s fifth village in Hawke’s Bay. When completed, it will offer approximately 300 units. It will further boost Summerset’s land bank of units, the largest in New Zealand’s retirement village sector.
The site is located within the new Mission Hills subdivision, a high-quality, master-planned community, southeast of Napier City’s CBD that will have up to 800 new homes built in the next decade. The elevated site will offer expansive views of the coast and surrounding rural landscape.
A new neighbourhood centre has been proposed within the subdivision, which will feature boutique retail outlets and a community reserve, with a playground. Taradale is only a six-minute drive from the village, and will provide residents with convenient access to a variety of specialty stores, boutique shopping, cafés, restaurants, a medical centre and weekly markets.
“As well as high-quality homes, we intend to offer our leading care offering at our new site and, of course, the facilities our residents love, such as an indoor pool, gym, café, library, bowling green and much more.
“When complete, the combined investment in the site will be in excess of NZD $200 million.”
The announcement comes as the company released its half-year result showing an underlying profit of $89.9 million, up three percent on the same period last year.
“We look forward to welcoming more Hawke’s Bay retirees into a Summerset village in the near future”, said Scoullar.
The first deliveries of homes at the Mission Hills site are expected from FY27 onwards.
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