When Fraser Sanderson began the construction of landmark retirement apartments back in 1987, the concept came under criticism for something that would never appeal to the New Zealand market. Now these facilities are commonplace. Sanderson's vision of "families helping families" has played out and he and his family have cashed in big time.

After starting his first retirement village in 1987 just before the great sharemarket crash, Fraser Sanderson can now look forward to his own retirement having sold out to NZX-listed Arvida for $180 million.

The deal crystalises a lifetime of work for the 63-year-old, whose family-owned Sanderson Group

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Family ties