Summerset Group Purchases Four New Sites in New Zealand

MT Newswires Live

2024/12/05

Summerset Group Holdings (NZE:SUM, ASX:SNZ) further expanded its portfolio with the purchase of four new sites in New Zealand for an undisclosed amount, according to a Thursday filing with the Aussie and Kiwi bourses.

The sites are located in Belmont in Auckland, Paraparaumu in Kapiti Coast, Boulcott in Lower Hutt, and Blenheim in Marlborough, the filing stated. The Belmont and Paraparaumu sites will be home to proposed new villages while the Boulcott and Blenheim purchases are extensions to existing villages.

The company has added more than 1,000 new units to its land bank this year.

Summerset's Australian shares were down 3% in recent Thursday trade.

Price (AUD): $12.84, Change: $+0.04, Percent Change: +0.31%

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