Following investors appointing a receiver to Ted Sents PeopleFirst Beachmere (an ambitious QLD village development), Ted has jumped in and appointed his own Administrator to six more of his companies. They include Querencia Latrobe City Pty Ltd, which it is assumed holds his two village developments in Moe in Victoria. The move will allow him to move forward in an orderly manner, he says, and that he is confident that all creditors will receive 100 cents in the dollar. Ted Sent is regarded by many as being the grandfather of the modern retirement village, having created and built the Primelife group, now Lend Lease Primelife.
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