Love Ageing

Aged care operator Estia looks to “significant and strategic” refurbishments to expand its portfolio: 16 homes undergoing major works

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The listed provider is making use of land adjacent to its existing homes with 16 of its homes (1,631 beds) currently receiving the higher accommodation supplement and 15 approved and underway (1,301 beds), according to their latest presentation at the Morgan Stanley Conference.

Like Japara, Estia have also increased their additional services available to residents, including technologies; lifestyle and activities; and dining experience.

In addition, their bed numbers will rise to over 6,640 on the back of three new facilities being built at Southport, Sunshine Cove and Blakehurst (345 beds) and another two homes approved for St Ives and Wollongong (220 beds).

The provider also plans to add to its portfolio by acquiring existing operational homes or turnkey new homes.