Arvida Group Limited (Arvida) reports the settlement of 130 sales of occupation rights during the quarter ending 31 December 2020. This comprised 45 new sales and 85 resales.

Arvida CEO Bill McDonald said he was very pleased to see strong sales enquiry since the end of lockdown turning into settlements. The Q3 settlements were up 29% on the prior quarter and up 17% on the prior corresponding quarter in FY20.

Resale settlements in the quarter comprised 36 villa and 49 serviced apartments. With access to care centres restored, the settlement of serviced apartment sales has returned to normalised levels. In terms of new sales, strong sales were recorded at Mary Doyle, with all 7 new villas released in Q3 sold and settled, and at Waimea Plains with 17 out of 25 stage 2 villas released in Q2 sold (with 11 of these settled).

“We have started the fourth quarter with continued momentum and a strong pipeline of sales for Q4” said Mr Bill McDonald.

The new Aria Bay care suite centre in Browns Bay (Auckland) is now complete. The dual purpose suites are fully occupied with a combination of transferring and new residents. The dementia suites will be opening to residents in late February.

Looking ahead, Arvida is on track with its target completion of 247 units/beds in FY21. This includes the Q4 delivery of the new Copper Crest care suite centre in Tauranga with 29 apartments and 55 care suites and the new care and apartments wing at St Albans in Christchurch.

Occupancy in Arvida’s care centres returned to 95% in Q3. This is in-line with historical experience, following a return to a normalised operating environment.

A table detailing occupation right sales and care occupancy is appended.

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