LDK CEO Byron Cannon, speaking at the LEADERS SUMMIT 2023 at the Hyatt Regency in Sydney, presented a slide which showed why the organisation’s services are hailed as sector leading.
LDK, so admired by Anglicare Sydney CEO Simon Miller that he invested $20 million into the business 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 Paul bought in December 2018.
It has also starting building a $250 million village Amberfield, modelled on Greenway Views, on 5.4 hectares of 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.
“We really promote vitality in our villages and set up our villages as a community where people can thrive. We focus very heavily on lifestyle and our villages are community hubs,” Byron told the 550 people at the sold-out event last Thursday.
“We are very heavily focused on service. We have what we call the village membership, which is a fixed fee for life paid per apartment. There are three options for it. You can pay it upfront, you can defer it and pay it on exit, or you can pay as you go.”
“Our financial model is also simple and easy for people to understand. We're an alternative to DMF and we can explain it quite simply and quite quickly. And the consumer understands.”
Byron also showed how the effectiveness of LDK model is becoming exceptionally well-liked.
“Only 30% of our residents at Greenway Views come from within the traditional catchment. So if you have a value proposition, that’s attractive to the consumer, you will draw them from outside your traditional catchment,” he told the LEADERS SUMMIT, adding he has presold 52 villas at Amberfield “from referrals”.
He ended his speech by reaching out to the audience.
“If anyone's going on a journey and want to embark on change, please reach out to us because we can share some of our mistakes,” he concluded.