Dunedin Television|On Demand - Freeview|HD Channel 39 - Friday, April 25th, 2014

Rest home operator lifts long-term build rate

The rest-home operator building a $15 million retirement village in Wakari has lifted its long-term annual build rate for new retirement units.

The Summerset Group is building a retirement village on a former playing field beside the Balmacewen Intermediate School.

The Wellington-based company's shares have jumped 49% this year.

It is planning to build 300 units a year across New Zealand by 2015, an increase on figures in its prospectus.