NZX & ASX RELEASE
11 SEPTEMBER 2017
OCEANIA HEALTHCARE PURCHASES KEY AUCKLAND PROPERTY
Oceania Healthcare announced that it has purchased a key site adjacent to its
successful Eden facility in Mt Eden, Auckland.
Oceania Chief Executive, Earl Gasparich, said that the 2,668m2 site on View
Road was a wonderful opportunity to expand operations of Oceania''s Eden
facility, which is one of Oceania''s flagship sites with 67 existing Care
Suites (premium care rooms sold to residents under the occupation right
agreement model) and 40 Independent Retirement Village Apartments.
"We are very pleased to be able to secure this property to expand our Eden
operation and provide a further premium care and retirement village offering
to discerning residents. We are experiencing very high levels of demand for
our Care Suites which offer residents a high quality of amenities and access
to Oceania''s renowned quality of care services."
Oceania listed on the New Zealand and Australian Stock Exchanges on 5 May
2017, having raised $200m of new capital to pay down debt and accelerate
growth through the build out of its brownfields development pipeline.
Mr Gasparich said "We told our shareholders at the time of the IPO that we
would make further brownfield and greenfield acquisitions as opportunities
arose, and this purchase in Mt Eden is a great example of the execution of
this strategy. It enables us to add to our brownfield development pipeline
at a proven site with strong property values."
The purchase price for the new site is confidential and no further details
are available at this time.
Oceania recently announced that it had exceeded its IPO forecasts for the
year ended 31 May 2017 and was well on track with the development of 316 beds
and units at four sites in Auckland and one in Tauranga (Melrose). The
Auckland sites include two of Oceania''s prime locations in Meadowbank and
Maureen Plowman, on the beachfront in Browns Bay.
ENDS
For all media enquiries, please contact:
Richard Gordon, 027 656 3001
End CA:00306961 For:OCA Type:TRANSACT Time:2017-09-11 08:30:19