Manufactured Home Parks prove their profitability: $6 million for Lifestyle Communities

Nov 22 2012 Updated July 4, 2023

The Weekly Source

1 min read

Victorian-based Manufactured Home Park operator Lifestyle Communities, with 1,230 homes under development or occupied after just six years of operation, has announced a $6 million net profit after tax. In 2012 they sold approximately $24 million in housing and received $6 million in management income. They also announced a rights issue to raise a further $36.5 million to retire debt and fund expansion. The two Founders and major shareholders, James Kelly and Bruce Carter, are staying in, subscribing as well.

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...

Ian Horswill

22 Apr 2024

Opinion

Opinion: what could be on the table for aged care on Budget night?

With just over four weeks until the 2024-25 Federal Budget is announced on 14 May, anticipation is building for Treasurer Jim Chalmers to restore some much-needed certainty to the aged care sector. As we report in this issue, the Shadow Minister for...

Lauren Broomham

11 Apr 2024

Government Policy

New Quality Standards will come into effect with new Aged Care Act: Department confirms

The Department of Health and Aged Care has confirmed that the strengthened Aged Care Quality Standards will be rolled out at the same time as the new Aged Care Act. “The strengthened Standards have been finalised and will come into effect in line...

Caroline Egan

11 Apr 2024

Development

Seniors housing faces becoming “the roadkill of the NSW planning system”

Two major policies recently exhibited by the NSW Department of Planning, Housing, and Infrastructure (DPHI) could have major implications on seniors housing, said Ethos Urban Director Daniel West. The Weekly SOURCE stated last Tuesday that Daniel...

Ian Horswill

16 Apr 2024

Aged Care Minister Mark Butler’s big change for residential aged care

The Minister for Health and Aged Care Mark Butler announced during the week that pharmacists will be funded by the Government to go into residential aged care homes and deliver vaccines to residents for free, a measure that was previously only...

Caroline Egan

2 hours ago

The Weekly SOURCE

Low vaccination rates may have impacted death rates in residential aged care

A lack of vaccination data The vaccination campaign began on 22 February 2021, and was criticised for being rolled out too late. Vaccinations in residential aged care were also criticised for being too slow. When the Omicron outbreak began in...

Caroline Egan

2 hours ago

Topic - Aged Care

400% increase in aged care job applications: Anglicare Sydney

dfasdfdasfasdf Yvette McDonald Chief People and Customer Officer, Anglicare Sydney Our residential care workforce has seen a significant turnaround due to both internal and external factors. Internally: we have focused on residential manager...

Caroline Egan

21 hours ago

The Weekly SOURCE

National Aged Care Advisory Council on Aged Care Taskforce Final Report and new Aged Care Act

You can read the communique here

Caroline Egan

21 hours ago