Bupa opens its first Australian retirement village in Sydney’s south

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The operator has opened its first 82-apartment retirement village in Sutherland, 30km south of the Sydney CBD, after four years of planning and development.

Co-located with its 144-bed Sutherland aged care home, the one-, two- and three-bedroom apartments come with the option of weekly visits from a registered nurse, and visits from Bupa’s dental, optical and hearing services.

Prices start at $659,000 for a one-bedroom apartment.

A Bupa spokesperson tells us the village will offer two DMF options for incoming residents – non-capital gains and capital gains.

“With the capital gain model, the Deferred Management Fee is 7.5 percent per year of the ingoing contribution for four years, capped at 30 per cent. For the non-capital gain model, the Deferred Management Fee is 6.67 per cent per year of the ingoing contribution for three years, capped at 20 per cent,” they said.

The new village marks a change for the operator that appears to move its Australian model closer towards its New Zealand one.

Currently Bupa Villages and Aged Care Australia has around 6,000 residents across 72 aged care homes after selling off three of its homes in Canberra and Hobart late last year.

In contrast, Bupa Villages and Aged Care New Zealand is the country’s largest aged care provider but also has retirement villages in the mix, with 48 aged care homes, 17 villages and seven rehabilitation sites.

Watch this space then.

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About Author

Lauren is the Editor at DCM Group and has guided its range of media including The Weekly SOURCE, The Daily RESOURCE and The Donaldson Sisters since 2016. With 13 years’ experience as a journalist, editor and commentator, Lauren is the only journalist to have attended every session of the Royal Commission into Aged Care Quality and Safety, producing 300 issues of the subscriber-only The Daily COMMISSION which offers exclusive insights and analysis of the issues surrounding the Royal Commission and the aged care sector.