Scattered around the country are hundreds of vacant retirement units. Its a marked change from just a few years ago when often the only time a unit became available was if a resident departed for the hospital or on a one-way trip to the cemetery. These days, its the entry point, rather than the exit, that is causing the vacancies.
Statistics on the ElderNet website, which lists vacancies at retirement villages and rest homes around the country, highlight the financial struggle facing many operators. Of the 64 centres listed in the Auckland central region, 51 have vacancies. Its a similar story elsewhere: 31 out of 50 centres have vacancies in the Waikato, 44 out of 81 in Canterbury, 17 out of 30 in the Bay of Plenty.
In the Headlines
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...
