Over the past few days, we have experienced two energetic re-entrants in the retirement village space, a positive marker for the next few years for the sector.
The Knowles brothers this week are close to selling out of Stage 3 of their second retirement village, Green Ridge Hunter Valley, under the Sencia brand (main picture). For the brothers, John, Russell and Graham Knowles, this is their return to the sector.
In 2007 they sold Australian Retirement Communities, ARC for $329 million to Stockland. At the time it was the largest private retirement village operator with 17 villages and 2,850 units, a business they commenced in 1969.
Since 2007, they have built the largest family owned residential aged care group, Arcare, with 28 locations.
We also met last week in Melbourne, Dale and Charissa Harrison, who are preparing to launch their URBANLIFE retirement village brand. They have four big sites around Melbourne.
Dale first came to the retirement sector in the 1990s but got side tracked. He says it has been on his bucket list of developments to do and now he and Charissa are set to be major village operators.
The energy across these two new entrants is palpable. They represent a refresh from the corporatisation of the sector that has occurred across the past 15 years.
