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21 Jul 2024 5:03
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  •   Home > News > Business

    Ryman Healthcare is continuing to press pause on more new retirement village developments

    Ryman Healthcare is continuing to press pause on more new retirement village developments


    It's scrapping plans for a major village on the Wellington suburb of Karori.

    The former teachers' college site on Donald Street -- which had previously been the subject of a bitter dispute between Victoria University and the Ministry of Education -- is now back on the market.

    JMI Wealth Director Andrew Kelleher says the company is focusing on existing construction projects due to ongoing challenging conditions.

    He says the company is facing a softer trading environment, weaker sales volumes, lower margins on new developments due to higher construction costs, and 2.5 billion dollars of debt.

    Ryman is pausing developments or selling land at five sites on either side of the Tasman.

    © 2024 Newstalk ZB, NZCity

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     Today's News

    Business:
    Olympic rowing champion Mahe Drysdale is set to be Tauranga's next mayor 4:37

    Living & Travel:
    The biggest winner in tonight's Lotto draw is an Auckland player who bought their Strike Four ticket online 21:57

    Entertainment:
    Bob Newhart has died aged 94 21:28

    Accident and Emergency:
    At least 11 people have died in the partial collapse of a highway bridge in northwest China following heavy storms and flooding 21:17

    Entertainment:
    Michael Strahan's daughter Isabella is cancer free 20:58

    Entertainment:
    Priscilla Presley claims she has had $1 million stolen from her as part of financial abuse 20:28

    Entertainment:
    Catherine, Princess of Wales has hailed the "power of nature" in helping "wellbeing" 19:58

    Entertainment:
    Sam Smith was left unable to walk after a skiing injury that led to the singer being taken off a slope in a "blood bag" 19:28

    Entertainment:
    Johnny Depp and Will Smith have reportedly struck up a bromance 18:58

    Rugby League:
    Melbourne league coach Craig Bellamy has described his team's relative lack of State of Origin representation as a "blessing" for the Storm's NRL title hopes 18:57


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