$150 million Carnegie Cove project near Port Macquarie in receivership

Oct 29 2011 Updated July 4, 2023

The Weekly Source

1 min read

The Melbourne based but Perth funded developer of Carnegie Cove, Australian Retirement Group, is in receivership with Ernst & Young. The 400ha project has been stalled for at least 4 years in part due to inadequate sewerage and water services being available in its Bonny Hills area of Port Macquarie. It goes to auction this weekend. There is development approval for 104 ILUs.

Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania

Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...

Ian Horswill

22 Apr 2024

Acquisitions

Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care

For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...

Lauren Broomham

24 Apr 2024

Opinion

576 village sellers are waking up: buyers are knocking on doors as the demand and supply penny drops on seniors accommodation

With Aveo selling 16 villages and RetireAustralia, with 29 villages, now also up for full sale (again), we hear a lot about these big players in seniors accommodation, but little about the little guys – and there are a lot of them. In fact we have...

Chris Baynes

22 Apr 2024

Development

Seniors housing faces becoming “the roadkill of the NSW planning system”

Two major policies recently exhibited by the NSW Department of Planning, Housing, and Infrastructure (DPHI) could have major implications on seniors housing, said Ethos Urban Director Daniel West. The Weekly SOURCE stated last Tuesday that Daniel...

Ian Horswill

16 Apr 2024

The burning physical, moral and financial question for village operators: how to exit frail residents?

We have been talking about this for some time, but now others are waking up to the significant calamity emerging for village operators. CBRE has just released is 2024 Seniors Living Report which states that (over the last 3 to 4 years) “in reality...

Chris Baynes

23 Jan 2024

The Village Professional

4,335 new village homes and $1.73B a year required to maintain retirement village penetration – but marketing courage is required

This week I received an email from Alok Kumar, CEO of Omega Communities in Adelaide, asking if we had information on retirement village penetration in New Zealand and Australia. It is a subject worth revisiting for all RV operators. The New...

Section Editor

12 Apr 2022

The Village Professional

First sod turned on RetireAustralia QLD’s The Green in Brisbane

Work has begun on RetireAustralia’s $80 million development The Green in Tarragindi, 8km south of Brisbane’s CBD. We reported on the joint ventures of retirement villages and golf clubs last year and RetireAustralia, whose CEO is Dr Brett...

The Weekly Source

31 Aug 2021

The Village Professional

Village customers stronger than ever, despite or because of COVID

It shows that last year in September just under 3,800 people searched for a retirement village each day on villages. com. au

The Weekly Source

24 Sep 2020