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Metlifecare (NZ) sells its Nelson village for $29M to private investors, including the village manager
Oct 18 2012
1 min read
The Weekly Source

One of New Zealand’s 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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