Riverdeen Retirement Villages

Riverdeen Park

The original Riverdeen Park complex on Aberdeen Road was built in 1985. The village is comprised of eight units. The complex is elevated above the Taruheru River, down the road from the Botanical Gardens and less than two kilometres to the Gisborne town clock and supermarkets.

COBDEN COURT

The smallest of complexes, built in 1990, Cobden Court is comprised of four separate units. A very quiet establishment, set back from the road, behind a brick fence and surrounded by established trees. Conveniently located directly opposite Pak’n Save supermarket.

VICTORIA COURT

Built in 1992, Victoria Court is comprised of six two bedroom units. All units have internal access to the house from the garage. Less than 1km to the city centre  and the town  beach.

CAMELLIA COURT

Camellia Court is comprised of nine two bedroom units. Single entry and secure gate onto the property. The location central to Gisborne and all it’s amenities, and is next door to the Kahutia Bowling Club. Residents enjoy the ability to walk across to the supermarket.

PALM GARDENS

Palm Gardens is the largest of complexes, comprised of 29 units. Built in two stages, spanning a block of central Gisborne, and with two driveway entry points. The complex is conveniently located, very close to the Botanical Gardens and the city centre.

Riverdeen Park Limited is registered with the Retirement Villages Association of New Zealand. The overall operation of Riverdeen Park is overseen by a Statutory Supervisor from Covenant Trustee Services.

PURCHASING

As with most retirement villages in New Zealand, Riverdeen Park offers an Occupational Right Agreement. This gives you, the owner, the absolute right to occupy the unit for the term of your life. This does not give you title of the land, this remains in Riverdeen Park Limited.

All agreements pertaining to Riverdeen Park are held by Solicitor Neil Weatherhead of Wilson Barber & Co.

Current entry age is 65 years and over.

SELLING

Riverdeen Park first and foremost facilitates the sale of units.

The capital from the sale is paid out when the home is sold, and after all refurbishments have been made for the next occupier. If there is a delay in sale or settlement, the fixed weekly fee is payable for up to six month after vacating the unit.

On termination of the agreement, the capital from the sale is paid out less the capital deduction, currently 20% over a maximum of four years. Added to this is a 30% share of the capital gain from the sale. This is set out in the individual agreement.

WEEKLY FEE

A weekly management fee is set to help cover costs associated with the property. The Statutory Supervision of the property requires the weekly fee to not exceed the costs associated with the property. Therefore the weekly fee covers:

• Rates
• Insurance of building, carpets and drapes
• 24 hour security
• Maintenance on the exterior of the units
• Lawn mowing
• Gardens to common area
• Rubbish collection
• Administration
• Statutory Supervision

MANAGEMENT

Riverdeen Park Limited has been in the business of developing and managing the retirement units since 1985. The current administration is overseen by Directors Lynda Mason and Patrick Willock.

Company Directors and Administration:

Lynda Mason

Riverdeen Retirement Villages
PHONE 06 868 7505
office@riverdeen.co.nz