Oceania Healthcare (ASX:OCA) - CEO, Brent Pattison
CEO, Brent Pattison
Source: Brent Pattison/LinkedIn
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  • Oceania Healthcare (OCA) is set to acquire Remuera Rise and Bream Bay Villages for NZ$57 million (A$51.66 million)
  • Remuera Rise is a premium retirement living apartment complex located in Newmarket, Auckland and is considered one of the highest quality retirement villages in the city
  • The Bream Bay Village consists of 83 villas and community facilities on 4.7 hectares of land in Ruakaka, Northland with OCA having the option to acquire a further 6.7 hectares
  • Oceania expects the acquisitions will deliver strong accretion to underlying earnings per share in FY23
  • Shares in Oceania have been trading steady at 87.5 cents since May 5

Oceania Healthcare (OCA) is set to acquire Remuera Rise and Bream Bay Villages for NZ$57 million (A$51.66 million).

Remuera Rise is a premium retirement living apartment complex located in Newmarket, Auckland that was constructed in 2013 and is considered one of the highest quality retirement villages in the city.

It hosts 58 apartments with a mix of one and two bedrooms ranging in size from 64 square metres to 132 square metres.

The complex is eight storeys, offers views of the Hauraki Gulf and the average apartment price is $1.1 million with some exceeding $2 million.

It includes a cafe, restaurant, bar, library, hobby rooms, a gym and a swimming pool.

The Bream Bay Village consists of 83 villas and community facilities in Ruakaka, Northland which have been progressively developed between 2019 and 2022.

The villas are located on 4.7 hectares of land and Oceania has the option to acquire a further 6.7 hectares of adjacent land to develop on.

Preliminary plans indicated 124 villas as well as a high-quality resident amenity.

Bream Bay Village hosts a clubhouse, lounge and dining areas, a bowling green, a spa, a gym and an indoor swimming pool.

Oceania expects the acquisitions will deliver strong accretion to underlying earnings per share in FY23.

Shares in Oceania have been trading steady at 87.5 cents since May 5.

OCA by the numbers
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