Villages Info Centre

SA is joining other states with a compulsory buyback period of retirement village units. It has taken to Parliament legislation that will require retirement village owners to pay out departed residents after 18 months if the unit has not been successfully reoccupied by a new tenant or lessee. Other states have as low as six months.

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RDNS CEO Steve Muggleton has signed another agreement in Quingdao, a province of 9 million people halfway between Shanghai and Beijing, to bring home care services to the region.

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Aveo has bought out 11 institutional investors in the Retirement Village Group (RVG) for $101M, delivering 31% of the investment fund that owns 28 retirement villages with 3,436 units and serviced apartments. The price paid was a 21% discount on RVG’s current security value. Last year they paid $56 million to purchase 19% of RVG from three investors including Macquarie and Telstra Super. Aveo achieved a 12% discount on that deal. All up Aveo now owns 73% of RVG with REST Industry Super the only other fund investor.

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There was an Australian record set last week in the purchase price for a terrace house (row house), with the Potts Point, Sydney home selling for $13 million, six million higher than the last record price for that style of house.

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Cohousing, multi-generational homes and high rise apartments – there are some interesting trends emerging in the way ordinary Australians are choosing to live. Once famed for our obsession with the quarter acre block, it turns out that we are now increasingly open to new ways of living.

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