3Q23 Metrics – Sales of Occupation Rights

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz



NZX & ASX RELEASE

10 October 2023


3Q23 METRICS – SALES OF OCCUPATION RIGHTS
Summerset Group is pleased to report 260 sales for the quarter ending 30 September 2023,
comprising 133 new sales and 127 resales. Summerset has achieved a total of 743 settlements
for year-to-date 2023.
Summerset CEO Scott Scoullar said sales were up 19% compared to Q3 2022 despite a
challenging market. “This is a very pleasing result, the residential property market has been
unpredictable at times, but we’ve been able to continue our momentum. We’re seeing positive
signs that the property market is improving.”
With deliveries heavily weighted to the second half of the year, it has been a busy period for the
company, recently welcoming the first residents to Summerset Boulcott in Lower Hutt and
Summerset Waikanae’s first residents are moving into their new homes in Q4.
Summerset at Pohutukawa Place’s village centre building was opened in September, which in
addition to providing village amenities such as a café, library, hair salon, and swimming pool,
also houses serviced apartments, care and memory care centres. The village’s apartments and
care rooms are selling well with very strong contracted stock already.
Pre-sales have commenced for the first stage of new homes at Summerset Blenheim, and at
Summerset St Johns in Auckland strong pre-sales continue.
“Our St Johns village has been progressing extremely well. Demand for the village has been
very high and we’re pleased that buyers have the confidence in us to buy now ahead of the
village’s opening in late 2024,” says Mr Scoullar.
Looking ahead, the company has a robust construction delivery pipeline for Q4 with the main
building at Summerset Palms (Te Awa, Napier) to be delivered and residents moving in from
November.
“Pre-sales of Serviced Apartments at our Te Awa main building are strong. We’re looking
forward to delivering this for our residents who have had to wait a little longer for their village
centre after Cyclone Gabrielle slowed construction in the region.”
In Australia, construction at Summerset’s Cranbourne North village continues and remains on
track to deliver the first homes in Q4 of this year.
ENDS

YTD23 SALES OF OCCUPATION RIGHTS

1Q23 2Q23 3Q23 YTD23
New sales 115 126 133 374
Resales 95 147 127 369
Total 210 273 260 743


FY22 SALES OF OCCUPATION RIGHTS


1Q22
2Q22 3Q22
4Q22
FY22
New sales 167 122 109 139 537
Resales 112 110 110 138 470
Total 279 232 219 277 1007

NOTES:
• Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.
• The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.


For investor relations enquiries: For media enquiries:
Will Wright Logan Mudge
Chief Financial Officer Head of Communications
will.wright@summerset.co.nz logan.mudge@summerset.co.nz
021 490 251 027 477 9486


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 38 villages completed or in development nationwide
• In addition, Summerset has six proposed sites at Half Moon Bay (Auckland), Rotorua
(Bay of Plenty), Kelvin Grove (Palmerston North), Masterton (Wairarapa), Rolleston
(Christchurch), and Mosgiel (Dunedin)
• Summerset also has one village in development (Cranbourne North) and six other
properties in Victoria, Australia (Chirnside Park, Craigieburn, Drysdale, Mernda, Oakleigh
South and Torquay)
• Summerset provides a range of living options and care services to more than 7,600
residents