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In May we predicted that large corporations would come to dominate the future of the retirement village sector. We should have added the aged care sector as well.
The Boards of QLD based RSL Care and Victorian based RDNS announced today they will merge, creating an operation valued at $1 billion with revenue of $500M.
Dedicated rental village operator Eureka has acquired three rental villages in Wynnum, Terranora and Rockhampton, taking them to 885 owned rental village units and 771 managed units. They also have seven additional rental village opportunities in the pipeline. They do not operate retirement villages.
No.3 retirement village operator in the NZ market, Summerset, has seen its sales in actual retirement village unit numbers jump by 47% this calendar year over last. In nine months they have sold 432 retirement village units with 243 of these being new retirement village stock.
NSW prisons have seen men aged over 65 increase by 225% over the past 10 years. They now have over 1,000 aged inmates out of 12,100 (8%) but have just over 500 aged care beds (4%).
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Our fortnightly newsletter brings you all the tips and tricks you need for a successful retirement, covering everything from finances and property, to health and happiness. Get prepared and sign up here.
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