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The financial press reports that lendlease has commissioned Goldman Sachs to find buyers for its five New Zealand retirement villages at a reported value of $100 million – meaning they will leave that market. The NZ portfolio comes under the Australian lendlease retirement division umbrella.
Logan City Council, 26km south of Brisbane, has given DA approval to build a vertical village that will deliver 450 retirement village units and 300 aged care rooms. The complex will include three 12 to 15 storey buildings plus two buildings of four stories.
The largest retirement village operator in Western Australia is the St. Ives Group with eight big villages of 2,000+ homes. It was founded in 1982 by Ray Fitzgerald and he (and Russell Halpern) started a slow sale process to the RAC (Royal Automobile Club) around 2008 to finally sell in 2103.
Margaret Profke and her four sons have sold out their four aged care facilities with 587 beds for a net $79.5 million to Japara who achieve their goal to move into QLD. A registered nurse, Margaret established the business on the Gold Coast 30 years ago.
Ex Bupa CEO and now Estia CEO, Paul Gregersen explained to his shareholders at their AGM that the nation’s 190,000 aged care beds in June 2013 need to expand by 69,000 by 2022 to keep up with people turning age 85. This is close to 7,000 new beds a year.
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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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