The Perth-based, family-owned aged care provider says it needs more time for due diligence and "transitional work".
The sale of the 134-bed aged care council-run home in Kiama, 120km south of Sydney, was announced in July. The $95 million sale price once adjusted for liabilities, including employee entitlements, refundable accommodation deposits, and ILU entry contributions, means Hall & Prior Aged Care will only pay an estimated $26 million for the home.
CEO Hall & Prior Aged Care
The sale price was also eroded by building defects, which Hall & Prior has committed to rectifying.
Blue Haven Bonaira, which cost Kiama Council $105 million to build, has been plagued by controversy since it opened and has been blamed for the Council's poor financial position. The home lost $660,000 in July 2022 alone.
The takeover was due to be completed on 1 November 2024, but the deadline has been extended to 2 December 2024 at the request of Hall & Prior Aged Care.
“Multiple operational and management teams have been on site and are working as hard as they can," said Hall & Prior Aged Care’s CEO Graeme Prior. "We requested this one month extension so that we can complete this very important work."
