St Lukes has finally bowed out of its ocean side retirement village and aged care developments at Little Bay, in the Eastern Suburbs edge of Sydney. Their aged care facility was arguably one of the citys best designed but St Lukes struggled to fill it. About two years ago they sold it to sister and brother, Barbara and Mark Moran, who quickly filled it at premium prices reportedly with bonds up to $800,000. From the outset St Lukes also struggled with sales of the prestige vertical retirement village development with great ocean views. Finally they called in Karen Mattingley to finish the sales program successfully. Now they have sold it to Lend Lease.
Opinion
The guru of aged care: retirement living’s future is private aged care
The retirement sector is going to have to move into assisted living and ultimately private aged care. Baby Boomers, now aged 61-79 now, will demand it. With the funnelling of older Australians into residential aged care already hitting full...
