Foodstuffs North Island has announced they have sold their Adelaide Road site in Newtown to Ryman Healthcare.
Auckland, New Zealand, 2014-7-4 — /EPR Retail News/ — Foodstuffs bought the site in November 2009 from Tip Top as a potential development site but following a strategic review of the portfolio, Foodstuffs determined the property was surplus to its future requirements, says Angela Bull General Manager of Property Development Foodstuffs North Island.
“After investigating a range of options for the site, we are pleased to have been able to work with Ryman Healthcare to achieve a great result for both the property and the Wellington community,” says Bull.
Ryman Healthcare will develop the 600m sq site into a boutique retirement village for the wider South Wellington community.
Ryman Healthcare managing director Simon Challies said the new village would include independent and serviced apartments, as well as hospital and dementia care.
“Newtown is a vibrant part of Wellington with a strong sense of community and we’re delighted to be building there.’’
Ryman are currently working on design concepts but it is too early to say what the final scheme will look like or when a construction start date is likely.
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