SUM - Summerset Group

[Beagle]

Thanks mate, now you mention it I think you're right, they were talking swing beds between hospital and rest home so you've got a very pertinent question that deserves a proper answer in my opinion.
Looking forward to hearing the answer.

[Food4Thought]

Thanks mate, now you mention it I think you're right, they were talking swing beds between hospital and rest home so you've got a very pertinent question that deserves a proper answer in my opinion.
Looking forward to hearing the answer.

I wonder if it is to try and have a facility that is dementia free, in order to offer this option to people wanting aged care. Dementia units also requires additional costs and care. I do wonder, valid question for sure.

[couta1]

I wonder if it is to try and have a facility that is dementia free, in order to offer this option to people wanting aged care. Dementia units also requires additional costs and care. I do wonder, valid question for sure.

Dementia units are in lock down and have no effect on the rest of the facility sure there are additional costs but they also obtain additional funding to run them,looking forward to hearing their explanation although I doubt it will cut the mustard IMO bye for now off to work in a dementia unit.

[Vaygor1]

Back in November 2013 this Ellerslie site was going to contain 252 units and 79 care beds in 3 x 6-7 story buildings plus 1 x 4-story buiilding as per the council submission. Refer http://www.propbd.co.nz/summerset-se...rslie-village/

Announcement today, the village will include 250 units, including townhouses, villas, apartments, and care beds to house 400 residence. Interesting to see if the 6-7 story buildings are still in there.

400 people in 250 units means 1.6 per facility
If say 50 care beds. That leaves 200 units for 350 people = 1.75 meaning 3 out of 4 townhouses/villas/apartments are expected to contain a couple. Is that realistic?

Also of note is the timeframe to get consent. And questions over SUM's ability to groom the authorities and the local community, and to submit realistically acceptable plans.

[Beagle]

Back in November 2013 this Ellerslie site was going to contain 252 units and 79 care beds in 3 x 6-7 story buildings plus 1 x 4-story buiilding as per the council submission. Refer http://www.propbd.co.nz/summerset-se...rslie-village/

Announcement today, the village will include 250 units, including townhouses, villas, apartments, and care beds to house 400 residence. Interesting to see if the 6-7 story buildings are still in there.

400 people in 250 units means 1.6 per facility
If say 50 care beds. That leaves 200 units for 350 people = 1.75 meaning 3 out of 4 townhouses/villas/apartments are expected to contain a couple. Is that realistic?

Also of note is the timeframe to get consent. And questions over SUM's ability to groom the authorities and the local community, and to submit realistically acceptable plans.

I'm with you. This appears considerably less ambitious than the original proposal and the time to get consent was lengthy. Auckland city council have too much power and are an absolute bloody nightmare to deal with. Its clear the market is unimpressed.

[Beagle]

They're still waiting for a zoning change for their lower hutt proposed development and I hear they're facing fierce opposition from the locals to a high-rise development there.

[winner69]

Tomorrow big day. We find out how much they made on the 195 sales (wouldn't have made anything out of operating a village)

I reckon $14m - up 40% odd on last year. There was pretty big increase in unrealised gains the last 2 quarters and these got to come out sometime

[Beagle]

I'll bet you a beer it'll be less than that

[Vaygor1]

Tomorrow big day. We find out how much they made on the 195 sales (wouldn't have made anything out of operating a village)

I reckon $14m - up 40% odd on last year. There was pretty big increase in unrealised gains the last 2 quarters and these got to come out sometime

I might be misunderstanding the post, but I thought unrealised gains would take an average of 7 years to come out; the average time between sale and resale of any given unit.

[Joshuatree]

From a broker with a Neutral "SUM is due to release its 1H14 result on 12 August 2014 and we expect a flat underlyingresult. Operating cost increases are expected as SUM scales up head office capability forthe next level of growth and a 2H14 bias for new sales and resales. We will review ourNEUTRAL rating with the result given the sharp share price correction; however a lack ofnear-term earnings momentum continues to be a risk factor for investors. "