One of New Zealands largest village operators, Metlifecare, has sold its Nelson village to South Island investors syndicate that includes its village manager, Steve Davis, for $29 million a big number compared to Australia. The village has 92 ILUs, 46 Serviced Apartments and 48 care beds. ILUs average $275,000 and SAs $170,000. The DMF is 10% per year capped at 3 years and there is no capital gain. Nelson has a population of 43,000 making it the 9th largest destination in NZ.
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...