In September, The Weekly SOURCE reported WA-based Hall & Prior had been granted a one month-extension on its acquisition of Kiama Council's problem-ridden aged care home Blue Haven Bonaira on the NSW South Coast, taking settlement to December, citing more time was needed for due diligence and "transitional work".
Now the $95 million deal is not expected to be completed until February, as Hall & Prior has requested even more time for due diligence, and factoring in closures over the Christmas and holiday period.
Kiama Council CEO Jane Stroud said the Council will continue to operate Blue Haven Bonaira until settlement. "Although the delay is beyond our control, it’s important that we address these matters thoroughly to ensure a strong foundation for the future," she said.
Blue Haven Bonaira cost Kiama Council $105 million to build, but it has been plagued by controversy since it opened and has been blamed for the Council's poor financial position. The home lost $660,000 in July 2022 alone.
