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.
ATO plans to charge GST on manufactured home parks scrapped
A concerted effort by the Residents Association of manufactured home parks has headed off the ATO which had planned to impose GST in mobile homes. This would have added 10% to the cost of the purchase of a home