Business North August 2022

34 | LIFESTYLE Arvida Group Acquisitions part of significant growth Kaern Phelps “We are purchasing villages in key locations where demand exists. For example previously we had only three villages in Auckland but with this transaction we now offer eight.” The past financial year marked a period of significant growth for Arvida as it continued to develop and enhance its village and care portfolio and roll out the successful execution of its broader strategy, says Arvida chief executive Jeremy Nicoll. The most successful acquisition was Arena Living’s portfolio comprising six villages – five in Auckland and one in Tauranga – which increased Arvida’s portfolio by 25%. Jeremy says these are mature villages but opportunity to add and redevelop some sites. “We are purchasing villages in key locations where demand exists. For example previously we had only three villages in Auckland but with this transaction we now offer eight,” he says. The pandemic continued to cause significant disruption impacting Arvida’s business operations throughout the year but Jeremy says it also brought to the fore Arvida’s purpose of enabling a more fulfilling life as people age. “This has never been more relevant in the current environment. Protecting the wellbeing of our residents and teams, and ensuring their safety has been the priority throughout the last two years of the pandemic,” he says. “What we’ve seen as a result is increased levels of demand across the board due to people wanting community living, peace, safety and security. Over the last 20 or so years we have seen the breaking down of family groups in local areas so the elderly may not have same support networks they had previously and retirement villages provide security, companionship and ready access to care for New Zealanders as they age.” In response Arvida has defined its strategy through four core pillars: to grow its portfolio of market-leading care centres and retirement communities; to empower its people to give their best effort everyday; to inspire residents to live their best lives; and to be a sustainable organisation. “Our strategy is to achieve sustainable performance by delivering on our four strategic pillars – Growing Well, Engaging Well, Living Well, Nurturing Well – which has our people at the centre of everything we do. The approach is underpinned by the values we embrace: passion; authenticity; fairness; can-do; innovative; and nimble and flexible. “By putting people at the centre of our strategy we are building a vibrant and resilient business, and innovating products and solutions that our residents and future generations will need as they age. We are also investing to provide solutions for those who wish to stay in their own home, supported by home care services and community connections that allow them to maintain their independence,” explains Jeremy. The flow-on effect has been increased demand for Arvida product resulting in Arvida’s best year ever in term of sales with 580 settlements including 104 at Copper Crest marking great acceptance of Arvida’s care suite and Living Well model, he says. Arvida is continuing with its build programme in 2022. It has bought two new pieces of land at Waikanae beach and Te Awamutu where it will build new villages. At Te Awamutu enabling and earthworks have been carried out and Arvida is due to start work on the first stage of villas. The project will deliver 186 villas and 60 care suites. At Waikanae Beach the resource consent process is being undertaken, which will deliver 148 villas, 40 apartments and 60 care suites. Arvida is taking expressions of interest and the first stage of product will be released to the market at each site in the first quarter of 2023. He acknowledges that it continues to be challenging to build with supply shortages and labour constraints. “Good relationships with Placemakers and Carters, which have done their best to assist Arvida to navigate the supply shortages, has helped. We have also had to be flexible and innovative and build things a bit differently sometimes so the pandemic hasn’t really affected our build rate.” Sustainability is another important part of the Arvida strategy. While Arvida’s purpose is strongly aligned with social and community health aspects of sustainability, an increas- • Arvida Group formed in 2014. • Arvida now offers retirement living accommodation and aged care services to over 6,750 residents making it one of the largest providers of aged care services in New Zealand. • It offers a total of 1544 aged care beds including 763 hospital, 545 rest home and 236 dementia care beds. • It offers a total of 3912 retirement units including 3056 villas/apartments, 707 serviced apartments and 149 care suites. • Arvida employs over 2,700 team members. Living a Life with Soul with Arvida