Aspen Group: little change in profits

Aug 26 2010 Updated July 4, 2023

The Weekly Source

1 min read

The Aspen Group has announced a FY10 profit after tax of $33.6 million, only slightly up from last year. Aspen was one of the few achievers last financial year, posting a profit of $33.2 million in FY09. Aspen Living currently manage five residential land estates in Australia and plan to create over 6000 home sites and build land assets to over a $1 billion.

Breaking news: RLC not happy – and secures emergency meeting with federal aged care regulator tomorrow to discuss proposed retirement village liquidity requirements

In a first for the retirement village sector, Retirement Living Council (RLC) representatives will meet with the Federal Aged Care Quality and Safety Commission (ACQSC) tomorrow (Thursday 6 March) to urgently counsel them on the impact of proposed federal liquidity requirements on village operators that will potentially stunt the village business model.

Click here

Lauren Broomham

05 Mar 2025

Opinion

Is this the canary in the coal mine for retirement village operators? The future when care crosses independent living

On 18 February, the Aged Care Quality and Safety Commission quietly released an ‘Exposure Draft’ for the Aged Care Financial and Prudential Standards 2025. In it the Federal Government crossed the line into retirement villages. See the wording...

Click here

Chris Baynes

04 Mar 2025

Government Policy

Always read the fine print: retirement village payments captured under new aged care liquidity ratios

A closer look at the legislation underpinning the Federal Government’s proposed minimum liquidity standards has revealed that aged care providers who also operate independent living units (ILUs) and retirement villages will have to retain 10% of ILU and retirement village refundable amounts under the changes.

Click here

Caroline Egan

27 Feb 2025

Government Policy

Home care wait list climbs to over 81,000 with six month delays at all levels

Over a five-month period, the number of older Australians waiting to receive their correct level of Home Care Package has increased by 5,000 according to data released in Senate Estimates on Wednesday.

Click here

Caroline Egan

27 Feb 2025

As promised, Eureka buys second all-age rental community with ingoing yield of 8.6%

After spending $4.5 million on Kin Kora residential home and caravan park village in the town of Gladstone, 517km north-northwest of Brisbane’s CBD last month, the nation’s only pure-play rental village operator has purchased its second all-age...

Click here

Ian Horswill

13 minutes ago

Topic - Developments

Mergers & Acquisitions

Arcare acquires two Melbourne sites to build new aged care homes

Arcare has cemented its position as one of Australia’s most prolific aged care developers with the acquisition of two significant Melbourne sites - Epworth Rehabilitation Hospital in Brighton, 11km south west of the Melbourne CBD, along with three adjoining residential blocks, and 4,000 sqms in Essendon, 8km north of the city centre.

Click here

Caroline Egan

06 Mar 2025

Topic - Acquisitions

Mergers & Acquisitions

Industrial Relations Commission rules Kiama Council does not have to pay Blue Haven Bonaira Aged Care staff redundancy

The embattled South Coast Council aided by the support of the Nurses and Midwives Association, Health Services Union, United Services Union, Local Government Engineers Association of NSW, and Development and Environment Professionals’ Association, has been found exempt from paying staff at the residential care home redundancies.

Click here

Caroline Egan

06 Mar 2025

Topic - Acquisitions

Mergers & Acquisitions

Over 6ha land lease community Palms Village owned by three families sells for about $24M to private individual

Originally developed as a caravan park during the seventies, Palms Village has been transformed into an over 50s land lease community of 226 sites housing around 300 residents. The Logan, Eastaway and Cahill families have continue the tradition...

Click here

Ian Horswill

03 Mar 2025