The Mary Doyle Lifecare retirement village in Havelock North has been sold, amid plans for new construction on the site.
Hurst Lifecare has sold the village, which included a rest home, hospital and dementia care unit to Arvida.
The sale was part of a package including Strathallan Lifecare in Timaru and half of Wellington's Village in the Park, which totalled $106 million.
"Meaningful brownfield development at Village at the Park and Mary Doyle includes 110 consented new units in the pipeline," Arvida chief executive Bill McDonald said.
"The new units will be progressively developed over the next four years and include developments nearing completion."