FCL retirement village plan

Press, 4 August 1987, Page 41

FCL retirement village plan

PA Wellington Fletcher Residential, Ltd, the country’s largest home-builder, and its Australian associate, Jennings Industries, Ltd, is to develop a retirement village in Hamilton.

Jennings Industries has had seven years experience in building, owning and managing retirement villages. The $27 millipn Alandale village project in Hamilton is to be Fletcher Residential’s first retirement project. A big difference between Alandale and other existing large retirement villages will be its legal ownership pattern. Most other villages offer a leasehold or licence to occupy, but Fletcher Residential will sell its homes on a freehold unit title. Fletcher Residential is the first New Zealand company to offer freehold title among large-scale retirement villages although this is common in Australia, the company said

yesterday. “The full project will see 150 architect-designed dwellings built that will emphasise space, comfort and safety,” the chief executive of Fletcher Residential, Mr A. G. Fletcher, said. “At the same time, we will be building an exten-sively-equipped 7500 sq ft (696.755 q m) clubhouse, a heated pool and spa and a three-rink, all-weather outdoor bowls centre. “Later on, in 1989, we aim to have 22 serviced apartments available for frail people with another 11 finished by 1990.”

Fletcher Residential has recruited from overseas retirement village managers, Mr John Jones and his wife, Aileen.

The couple had experience in England and seven years in Australia setting up, organising and running five villages that currently have over 500 residents.