Obviously commenced years before the new aged care funding crisis, BUPA has just opened a 144 bed in Bankstown, one of Sydneys heartland working/middle class suburbs. Built on the old Yagoona Bowling Club site it is a $30 million investment an average of $208,000 per bed. Most private operators are saying they will cease all building going forward because of government induced bank funding uncertainty.
Opinion
RIP: We are seeing the death of the family-run aged care operator
It feels like I am writing an obituary to family-run aged care facilities. Once the backbone of the sector, multi-generation operators are now selling out at a pace not seen before. The sell-off is accelerating, with three landmark deals in just two...
