Anglicare Sydney CEO Simon Miller is locked in a two-day board meeting today selling his future strategy plans after sealing a 50% interest in Brisbane-based continuum of care owner/operator LDK for $20 million.
Simon, the former Managing Director and Senior Partner in Boston Consulting Group, sees the acquisition, first reported by The Weekly Source on Friday, as a natural implementation of his Not For Profit organisation’s investment strategy.
His passion is to improve the quality of service to Anglicare Sydney’s customers and residents better than ever done before.
“Our investment in areas with which we are aligned strategically and in which we have extensive experience makes good sense,” said Simon, who joined Anglicare Sydney in February.
“This opportunity to join in a partnership with Aspire is a good fit for Anglicare. LDK’s values are highly complementary to Anglicare’s, and we look forward to partnering with them to deliver exceptional service for LDK’s current and future residents.
LDK, founded by Paul Browne, has two continuum of care villages: its first purpose-built seniors’ village Greenway Views in Tuggeranong, Canberra, and The Landings in North Turramurra on Sydney’s Upper North Shore, which Browne bought in December 2018.
It has also been given planning approval to build a $143 million seniors village, modelled on Greenway Views, on 5.4 hectares of designated land on the edge of Yarralumla, 3.5km southwest of Canberra. In addition, LDK also has an option on a third greenfield site in Canberra.
The management and operations of the LDK portfolio remain unaffected by the acquisition.
However, Simon recognises an opportunity for collaborative exchanges between LDK and Anglicare governance and senior management.
“With this investment comes an opportunity to observe at close quarters the many attributes that LDK have leveraged to create their reputation in care management, in property and in sustainability,” Simon said.