User Profile

05 Nov 2024

Sector Moves & People

DCM Group’s tour of innovative land lease communities and retirement villages in Port Stephens and Newcastle

The sight of residents enjoying themselves is testament to the endeavours of the small number of staff making it possible every day. DCM Group’s workforce boarded a mini bus at its Balmain East offices and were met and welcomed at: Palm Lake...

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05 Nov 2024

Out of the Ordinary

Anglicare scraps DMF for LDK’s Village Membership model at Woolooware Shores with early success

The Deferred Management Fee (DMF) has been replaced at the For Purpose Not For Profit’s Woolooware Shores retirement village in Taren Point, 18km south of Sydney’s CBD. Jodie Pennings, Head of Sales, Retirement Living, at Anglicare, contacted us...

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Simon Owen says: “It is hard to think of many other opportunities which offer such a compelling investment thematic as over 50’s rental communities”

The new CEO of just eight weeks was ebullient in his optimism for the rental village sector in his AGM presentation, comparing it to early Ingenia, a company he took from $30M to $1.7B in value in 14 years. “What really excites me about the role at...

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Mergers & Acquisitions

Simon Owen repositions Eureka as Build to Rent with its first vertical BtR and a horizontal BtR acquisition

In a nice turn of phrase, new Eureka CEO Simon Owen in his AGM speech described its 52 rental village portfolio as horizontal Build to Rent. One village is now being replaced with a 153 unit rental tower at Southport QLD. It has lodged a development...

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Lifestyle Communities vilified by resident on ABC 7.30 turns to “contented” homeowners

It was in July when ABC 7.30 engaged in activism journalism, targeting the ASX-listed over 55s land lease operator with Lifestyle Wollert homeowner Geoff Gauci, a retired police officer, likened it and the contract he signed to “a financial...

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Government Policy

NSW Government boosts $16M Tenants Advice & Advocacy Services delivered by 21 NFP operators

The network of 21 Not For Profit organisations respond to around 30,000 requests a year for tenancy advice from renters in private and social housing, boarders, lodgers, and land lease community residents, according to the State Government. NSW Fair...

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Mergers & Acquisitions

Affordable housing group Aspen sells over 50% of its shares in Eureka to reduce debt

The former suitor of Eureka, the only pure-play over 50s rental community owner and operator, sold $33.6 million worth of Eureka Group shares after last Tuesday’s closing bell. Fund managers were offered Eureka shares at 61 cents, a discount on...

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Mergers & Acquisitions

Hometown adds Macquarie Shores to its 57 leading land lease communities portfolio

Hometown Australia has bought Malcolm May’s Macquarie Shores Home Village on the NSW Central Coast. The over 50s manufactured housing estate of 215 homes in Doyalson North, 110km north-northeast of Sydney’s CBD, has two homes for sale on its...

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Up to 136% capital gain in seven years for residents at Ingenia Lifestyle’s Chambers Pines land lease community in Logan, QLD

With the final release of 19 homes sold out at the over 50s resort in Chambers Flat, 39km south of Brisbane’s CBD, priced from $345,000 to $615,000, The Weekly SOURCE asked what the original residents paid. “Chambers Pines residents who bought...

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Aura Holdings finish The Pavilion North Kirra retirement village, Gold Coast, with all apartments above $1M

The completion of Stage Two at The Pavilion North Kirra means Aura Holdings has delivered a total of 201 new retirement living apartments to the market in 2024, showcasing a year of growth and success, with “multiple new projects on the...

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Development

On-site display suite opens at Keyton’s Sunrise Beach Village retirement facility

Co-located adjacent to BlueCare’s Sunrise Beach Residential Aged Care facility in the coastal suburb in Noosa, Sunshine Coast, the retirement village will offer 122 independent living homes. Keyton Chief Executive Officer Nathan Cockerill said...

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Development

Forestville RSL Club in Northern Sydney latest attracted to seniors living to save its future

The club, established in 1959, is seeking a two-stage $77 million redevelopment of the entire 9014msq site for a new venue and 39 two- and three-bedroom independent living units (ILUs) in a low-density apartment complex. Forestville RSL Club CEO Ian...

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