Three Canterbury village sites on Ryman's chopping block

Monday, 9 February 2026

Margaret Stoddart Retirement Village in Riccarton. At least part of the property is being assessed for sale.

Retirement village operator Ryman Healthcare is considering selling three more Canterbury sites, following its sale of two park-side blocks in central Christchurch.

The Christchurch-based public company is running the ruler over properties in Hornby and Riccarton in Christchurch, and a vacant block in Rolleston, as part of a trans-Tasman sell-off of assets aimed at raising $200 million.

It recently sold two blocks of central Christchurch land on Park Tce opposite Hagley Park to housing developer Wolfbrook for $42m, as part of a wider $110m disposal of properties.

One of two former Ryman sites on Park Tce in Christchurch sold to housing developer Wolfbrook.

The sale followed Ryman abandoning its consented plan to build a $240m retirement village on the land.

In October the company announced the closure of care facilities at two of its older Christchurch villages: Margaret Stoddart on Bartlett St in Riccarton, and Woodcote on Woodcote Ave in Hornby. The closures affected about 80 residents, who were given the chance to transfer to another Ryman complex.

Partial sales are possible as the Riccarton village is on three property titles, while the Hornby village is on six.

The site of Woodcote Retirement Village in Hornby Christchurch may be sold by Ryman after its care facilities closed last year.

A Ryman spokesperson said as well as assessing whether to sell the land where the care facilities stood, it will consider the future of the balance of the land and units at both villages.

Retirement villas remain at the two sites, but most residents have moved out as services and the number of residents dwindled. The few remaining residents are protected from eviction because they hold licences to occupy their units.

Raewyn Idoine, who in December was still living at Margaret Stoddart and told The Press she was struggling to find a suitable alternative, said this week she is now happily resettled in another Ryman village in the city.

Raewyn Idoine was upset by the demise of Ryman Healthcare’s Margaret Stoddart Retirement Village, but has now happily settled in another village.

The Ryman spokesperson said most of those who have vacated their independent and serviced apartments have gone to other Ryman villages.

“As a result, we believe there is future potential to either redevelop these sites or release cash back into the business through divestment.

“We are now working through these options to determine our future plans for both villages.”

Land on Goulds Rd, Rolleston, which could be sold by Ryman after the company dumped its $205m plan to build a new retirement village.

The Rolleston land was the intended site of a new $205m retirement village Ryman planned to build inside the town’s Faringdon subdivision.

The property, a 9.5-hectare block on Goulds Rd, would have housed 280 residents with individual units, a rest home, dementia and hospital facilities.

It was to have provided work for more than 200 construction workers, and create about 120 full-and part-time time jobs in the village once open.

The project had resource consent, and construction and sales were to have begun by 2024.

That year, after recording a heavy financial loss, Ryman announced it would pause all planned new villages where construction had not started.

At the same time it decided it would assess the future of its landbanked sites and consider selling them to reduce debt and reset its balance sheet.

In its latest announcement, Ryman said it has identified for potential sale five sites in total. Aside from the Canterbury properties, it is assessing land in Kohimarama in Auckland and a property in Melbourne.

The sales would be the first step in the company’s three-to-five year process aimed at putting $500m back into the business and restarting dividend payments to shareholders. Ryman is listed on both the New Zealand and Australian stock exchanges.