SUM - Summerset Group

[percy]

Possibly because they get a whole lot more in a retirement village house then they might in an average house in a surrounding area.

This is what you get in one of SUMs places not far from me.

"Alpine View Lifestyle Village is designed to look like a new residential subdivision not a traditional retirement village which means all our houses are architecturally designed, distinct, different and standalone. They have been discretely designed for sun and privacy.



There are different architectural features for our Independent living houses and if you are in early and purchase the occupational rights while the house is under construction, then you can have a choice as to the configuration.


The house sizes range from 124m2 to 165m2 and feature two or three double bedrooms with walk -in wardrobes, (single or double) garage, a tiled ensuite, a visitor’s toilet, and a tiled floor in both the entrance and kitchen.


There are French doors in both the living and dining areas – providing indoor/outdoor living and a 2.7-metre-high ceiling height provides each room with a greater sense of space and light.


The kitchen features stainless steel appliances, including: a wall oven, induction cook top, waste disposal unit and dishwasher drawer.


For energy saving the houses have solar heating, LED lighting, double glazing and tinted windows, as well as a heat pump/air conditioning unit and under floor heating in the bathroom."

Plus

"At the heart of the village is Alpine View’s Lodge. Here you can take in a movie at the Roxy Movie Theatre, watch the rugby in the Stag’s Head Bar, dine in the Oxford Restaurant, catch up with friends in Ginger’s Café, enjoy the heated pool, workout in the gym or participate in one of the many regular events organised by the activities coordinators.


Also within the lodge is a hair salon, medical centre, chapel and library."

Interesting seeing Alpine View raising the standards.
Not surprising, as the co-founder of the original retirement village standard raiser RYM,John Ryder, is not only a director of Alpine Village but also heavily invested in it.
Minimoke .A lot of guys who grew up in New Brighton became very successful tradesmen,so like to live in the area they grew up in.

[couta1]

Good point - I'm not sure that is true

Actually it is, in a lot of cases.

[dobby41]

SUM's job to fix social problems.

And I think that is the key.
The idea of having 'affordable' units seems kind of silly really.
If the Govt wants a cheaper village then maybe they should build one (or 20) to suit.

[Beagle]

And I think that is the key.
The idea of having 'affordable' units seems kind of silly really.
If the Govt wants a cheaper village then maybe they should build one (or 20) to suit.

I am sure Jascinda will come up with some grand scheme and yet another form of tax or tax increase to fund it, after the usual appointment of committee's and working groups of course !

[minimoke]

Minimoke .A lot of guys who grew up in New Brighton became very successful tradesmen,so like to live in the area they grew up in.

Percy - my comment was a reflection on the housing (and thus the value relative to Alpine Views) - not the people

[Ggcc]

I am sure Jascinda will come up with some grand scheme and yet another form of tax or tax increase to fund it, after the usual appointment of committee's and working groups of course !

Those dirty rich people can pay for it right...... hand me another tui please

[LAC]

Anyone attending the AGM? Can you please keep us updated on the Q's and A's at the end

[dabsman]

I am sure Jascinda will come up with some grand scheme and yet another form of tax or tax increase to fund it, after the usual appointment of committee's and working groups of course !

The solution is easy for Taxinta - just ban aging

[percy]

The agm presentations read very well.

[Beagle]

Good solid feel to the outlook. Had a good chat with Julian Cook, Scott Scoullar CFO, and Directors Anne Urlwin and Dr Andrew Wong after the meeting. I have a good sense that this is an excellent company with a very solid pathway of growth in the years ahead. No concerns to report. I am sticking with my forecast of $100m underlying earnings this year, 44.5 cps. Forward PE of approx. 15.5 seems very reasonable considering their track record of growth and the strength and integrity of their leadership team. Couldn't be happier to hold a good sized stake in SUM long term.

http://www.sharechat.co.nz/article/8...for-growthhtml

Good summary of what was said at the meeting.