Becton in trouble despite the well performing retirement division – which now faces a $30M write down

Becton Property Group has been struggling under massive debt since 2007, which is now paralysing its retirement village business led by Stuart Nicolson. The parent’s troubles has led to Suncorp struggling to refinance the retirement divisions’ $74 million facility. This has triggered a revaluation down by $30 million on the village assets, which in a Catch 22 will make it harder again to secure affordable funding. Becton has six villages, all highly regarded and most top end. Buyers will be circling, but waiting for the right price.