Banks in todays market will generally not finance a vertical village, according to the panel of Richard gates (ANZ), John McNamara (Bendigo & Adelaide) and John Perry (Argyle Residents Group). They agreed that a staged development of a up to 20 ILUs with 50% pre sales, an experienced operator, experienced sales and marketing team and approaching 50% equity would be the starting line for consideration. As a result vertical villages will remain the domain for Not for Profits, that have the cash or the land bank or both.
Opinion
These new retirement villages show providing care is here and now
Gone are the days when retirement living was defined by community centres, swimming pools and bowling greens. While these amenities still exist – the provision of care is now a core part of the value proposition. Hyegrove Willoughby on Sydney’s...
