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Legal Issues

VIC retirement village operators hit hard: mandatory Code of Practice, standardised contracts, annual checks, refurbishment not chargeable

Minister for Consumer Affairs Gabrielle Williams (pictured) last Wednesday introduced the Retirement Villages Amendment Bill into Victorian Parliament, claiming it gives residents in retirement villages some of the strongest protections in...

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Legal Issues

SA retirement village operators hit: Buybacks cut, recurrent charges capped, Code of Conduct, mandated training

The new laws reforming South Australia’s Retirement Villages Act 2016 were passed by the state government last Wednesday evening, imposing required actions. “These changes mark a significant shift in the regulatory landscape, focusing on...

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Record attendance at DCM Institute’s VILLAGE SUMMIT 2024 as sector engages in required staff training

Just announced VIC and SA RV Act changes are making it mandatory for operators to ensure staff undergo training, as part of new codes of conduct, including training before staff start in SA. In NSW, the training of staff has been a required...

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With house prices predicted to fall, New Zealand is a warning to all retirement operators

Sydney and Melbourne property prices are forecast to fall by as much as 5% next year as affordability challenges and no cuts in interest rates hit the property market, according to a new report by SQM Research. SQM Research’s Christopher’s Housing...

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Mergers & Acquisitions

Ingenia still a developer as it buys two greenfield sites for almost $30M

Seven days after publicly stating Ingenia Communities is pivoting from being an asset aggregator to an asset developer and operator, it bought two development-approved large greenfield sites in Queensland. Its Ingenia Lifestyles over 50s land lease...

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Colliers’ Land Lease Community Market Overview: “significant growth fundamentals”

When Stockland CEO Tarun Gupta sold the 58 villages and 10 development projects underway in its Retirement Living business to Swedish investment firm EQT Infrastructure (EQT) for $987 million in February 2022, he made one very telling comment. As he...

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This is not a retirement village or land lease community — it’s a Build to Rent

The Gladstone, which is South Caroline-based Greystar’s first Build to Rent tower in Australia, has opened its doors with two months’ free rent in Melbourne. The largest apartment manager in the US, with over 726,826 units/beds as of 2023 has...

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Mergers & Acquisitions

AVID Property’s owner offers $374M for AVJennings

American real estate giant Proprium Capital Partners wants to add one of Australia’s best-known property development and construction companies to AVID Property. AVID bought all eight of the Puljich family’s Living Gems land lease sites at the...

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Development

New entrant has approval to build retirement village with 24/7 care in Port Stephens, NSW

Michael Coddington, the former CEO of Kurri Kurri Community Services, formed Imagining for Good and Building for Good Australia in January this year. He told Port Stephens Council of his plan, which was approved, to turn Tilligerry Plaza at Tanilb...

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The two major retirement village operators try to improve brand image

Keyton CEO Nathan Cockerill fronts a video entitled: Exiting a Keyton village, one of the supposed issues brought up by the recent ABC 7.30 programs

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Housing News

Build to Rent laws passed with forecast of 80,000 rental homes in 10 years

The tax incentives in the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 and Capital Works (Build to Rent Misuse Tax) Bill 2024 apply to Build to Rent (BTR) projects of 50 or more apartments or dwellings, made...

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Housing News

Funding secured for Uniting WA to operate social housing for women over 55 in Perth

The Not For Profit owns Wyn Carr House in Freemantle, 19km southwest of Perth’s CBD, and has secured $7 million from the state government to redevelop it for transitional accommodation for women over 55 facing homelessness. It had been hoped to...

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