The 14.2ha site purchased by Summerset Group. Photo / Supplied
The 14.2ha site purchased by Summerset Group. Photo / Supplied
Retirement village operator Summerset Group has bought a piece of Rotorua farmland long used for tourism experiences, with plans for a $180 million development.
The 14.2-hectare site in Fairy Springs - which is home to Rotorua Heritage Farm, 3D Trick Art Gallery, and Farmside Buffet Restaurant - will be Summerset'sfirst site in Rotorua.
Summerset chief executive Scott Scoullar said the proposed village was in the planning stage and was expected to offer about 270 homes, including villas, cottages and serviced apartments.
"There will also be a village centre with a care centre offering rest home, hospital-level care, and recreational amenities."
A bowling green, café, communal vegetable gardens, exercise room, library, hair salon, residents workshop, pool table, residents bar and a playground for residents' grandchildren was also planned.
Scoullar said the development was expected to create about 250 construction jobs and about 50 permanent roles, including carers, nurses, gardeners, and property maintenance once complete.
It was a $180m investment, including the land purchase, he said.
The 14.2ha site purchased by Summerset Group. Photo / Supplied
According to the Rotorua Heritage Farm website, the farm at 171 Fairy Springs Rd was established in the early 1930s as a place visitors could experience what it was like on a working farm.
The land has been transformed into the Rotorua Heritage Farm tourist attraction where people can feed and interact with animals on guided farm tours, visit the gallery, or dine at the restaurant.
Scoullar said the site had been home to various tourism operators.
Asked about the future of those operations, he said the company was "looking at options" for how to best use the "existing site features".
The village will be located about 5km from the Rotorua CBD, with the nearest supermarket and medical centre about 1.5km away, he said.
Summerset chief executive Scott Scoullar. Photo / Supplied
The Rotorua site is one of three new acquisitions for Summerset, including others in Masterton, Wairarapa, and Mernda in Victoria, Australia. The combined investment would exceed $600 million.
The announcement comes as the company released its half-year result showing an underlying profit of $82.5m, up 9.2 per cent compared to the same period last year.
Scoullar said it was pleasing to be able to strengthen its portfolio and secure sites in high-demand locations.
"The Rotorua area doesn't have a retirement village offering like ours currently, and with a strong 75-plus population expected to increase by 30 per cent in the next six years, Summerset is pleased to be able to bring our unrivalled continuum of care retirement village offering to Rotorua.
"Our villages will offer a full range of high-quality units for independent living, as well as a residential care offering on site."
Rotorua Business Chamber chief executive Bryce Heard said the chamber was delighted to see Summerset was planning investment into retirement villages in Rotorua.
"There is a strong demand for both retirement accommodation and housing generally in Rotorua.
Rotorua Business Chamber chief executive Bryce Heard. Photo / Andrew Warner
"It is great to see reputable companies like Summerset recognising the potential that Rotorua has to offer."
Rotorua Economic Development chief executive Andrew Wilson said an increase in the number of retirement homes will free up housing stock from those seeking to downsize and move into a village.
"We know that retirement villages are an important part of the housing eco-system for Rotorua and will help to address some of the housing issues we are currently facing."
"It will also contribute to job growth in the construction sector as well as the ongoing operation of the village itself, which is really positive for Rotorua.
"The demand for more retirement villages in Rotorua also highlights the desirability of our city as a place to relax and enjoy all that our region has to offer."
Rotorua Economic Development chief executive Andrew Wilson. Photo / Andrew Warner
Rotorua Lakes Council deputy chief executive of district development, Jean-Paul Gaston, said there was increased interest from aged care providers and lifestyle villages looking to establish themselves in Rotorua.
"We are providing support to assist them with assessments and site selection."
Retirement Villages Association of New Zealand executive director John Collyns said its data showed there were eight existing retirement villages in Rotorua with 375 units that were home to about 500 residents.
A unit can be a stand-alone villa, a townhouse, an apartment or a serviced apartment.
Three of those villages were planning to expand by another 101 units, plus three new villages with at least 347 units were being built. That did not include the Summerset development.
"In time, say five years, [retirement villages] will be providing at least 825 units that will be home for 1100 residents, plus the Summerset development."
Collyns said it welcomed all retirement village developments as New Zealand's ageing population demanded more age-appropriate housing that provided what older people want.
"Somewhere that is warm and safe to live, friends and companionship, enough money to live on and a pathway to care should that be needed.
"This is equally true in Rotorua as it is in the rest of New Zealand."
Rotorua Heritage Farm operations manager Robyn Van den Hurk said the business was still open and as far as she was aware it would stay open well into the next year.
"It is business as usual until further notice."
Rotorua's retirement villages
Cantabria Retirement Village
Fergusson Home and Retirement Village
Glenbrae Village
Regency Park Estate
St Barnabas Close
Redwood Retirement Village
The Gardens Retirement Village
Lynmore Rise Retirement Village
Matipo Avenue
Wharenui Road Retirement Village
Rotorua Lakes Lifestyle Village
Source: Retirement Villages Association of New Zealand (RVA)
