Metlifecare (NZ) sells its Nelson village for $29M to private investors, including the village manager

Oct 18 2012 Updated July 4, 2023

The Weekly Source

1 min read

One of New Zealands largest village operators, Metlifecare, has sold its Nelson village to South Island investors syndicate that includes its village manager, Steve Davis, for $29 million a big number compared to Australia. The village has 92 ILUs, 46 Serviced Apartments and 48 care beds. ILUs average $275,000 and SAs $170,000. The DMF is 10% per year capped at 3 years and there is no capital gain. Nelson has a population of 43,000 making it the 9th largest destination in NZ.

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