Banks in todays market will generally not finance a vertical village, according to the panel of Richard gates (ANZ), John McNamara (Bendigo & Adelaide) and John Perry (Argyle Residents Group). They agreed that a staged development of a up to 20 ILUs with 50% pre sales, an experienced operator, experienced sales and marketing team and approaching 50% equity would be the starting line for consideration. As a result vertical villages will remain the domain for Not for Profits, that have the cash or the land bank or both.
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...