TUMU Group acquires Greytown Orchards
MEDIA RELEASE 4 JULY 2024
The Directors of Greytown Orchards Retirement Village are pleased to announce that TUMU Group has purchased founding shareholder Craig Percy’s shares in the Village. Greytown Orchards is a premium retirement village situated in the heart of Greytown, Wairarapa. Tumu Group have been in partnership with Craig since the Village’s inception in 2018 and are now the sole shareholder following completion of the sale.
The Directors recently met with residents to advise them of the sale process. During the meeting Tumu Group CFO and Greytown Orchards Director, Paul Reeve, acknowledged Craig for his vision and leadership, and expressed Tumu Group’s commitment to fulfilling this vision in developing the remainder of the Village.
Residents of Greytown Orchards have been assured of a seamless transition. The dedicated team, led by General Manager Andrew Bos, will continue to oversee the operation of the Village, ensuring residents receive the same level of service they have come to expect.
Commenting on the acquisition, Paul expressed Tumu Group’s long-standing commitment to Greytown Orchards and the residents. “Our involvement in developing Greytown Orchards dates back to when the land was purchased in 2018. We were drawn to the unique nature and rich history of the site and surrounding area, along with Craig’s vision to develop a best-in-class retirement village. Retirement living at Greytown Orchards offers the best resident experience in the region, and we are proud of what has been achieved to date.”
Paul emphasised Tumu Group’s commitment to ongoing investment and development. “We are dedicated to realising the full potential of Greytown Orchards and have provisioned capital to support the development through to completion. The concept plan for the community centre is underway, alongside planning work for Stage 2 villas.”
Tumu Group has a strong track record in residential and retirement development. Notable Hawke’s Bay projects such as the 66-villa Frimley Lifestyle Village, and Peakviews, a 35-villa boutique retirement village currently under construction, demonstrate their expertise and dedication to creating thriving communities.
ENDS
About Greytown Orchards
Greytown Orchards is planned as a $150 million retirement village development on a 13-hectare site on the east side of Greytown. Originally a prominent orchard owned by the Murphy family, the site has a rich horticultural history, and in a nod to that history, many fruit trees have been retained amongst the villas on site.
The Village is consented for 180 villas and a care facility, along with the soon-to-be-developed community centre.
About Tumu Group
Tumu was formed in Hawke’s Bay in 1975 by bushman and farmer Hugh O’Sullivan. Originally a lumber yard operating out of Dannevirke, in the intervening years Tumu diversified its business interests into sawmilling, timber manufacturing, financing, property development, retirement villages and import and distribution. www.tumu.co.nz
Media inquiries can be directed to:
Trish Scott
Marketing and Communications Manager
TUMU Group
Mobile: 027 1810 0320
Email: trish.scott@tumu.co.nz
Paul Reeve
Chief Financial Officer
TUMU Group
Mobile: 027 482 8755
Email: paul.reeve@tumu.co.nz