The Aura Retirement Resort in Findon, 6.5km northwest of the city’s CBD, will house 133 one-, two- and three-bedroom apartments over four three-storey buildings plus a range of resort-style facilities.
Check out their site HERE.
Aura is the first village for Livewell Communities, which is run by management consultants Joe Trimboli and Charlie Way. Both have over 20 years’ experience in the retirement, aged care, hospital and hospitality businesses.
Mr Trimboli specialises in sales and marketing with previous roles at the Adelaide Casino and private equity firm Platinum, while Mr Way has held Executive Management and Director roles at Hyatt Regency Adelaide, RACV Clubs & Resorts Victoria, Southern Cross Care (SA/NT) and Anglicare SA.
Prices for the apartments will range from $310,000 for a one-bedroom apartment through to $599,000 for three-bedroom accommodation, with residents charged a single Deferred Management Fee (DMF) that will consider any capital gain accrued during residents’ time in the village.
No capital replacement and re-marketing fees will be charged either.
Mr Trimboli tells us they have spent two years researching their model with help from analysts to simplify the fee structure as much as possible. They have also conducted focus groups to work out their customers’ wants.
“Some of the legacy contracts in place are quite convoluted,” he said. “We have the benefit of starting fresh. “We’ve worked out this is what the market is saying they want. And being a small operator, we don’t have overheads of big companies so we can pour the money back into our residents.”
Their resident agreements are also shorter – around 15 pages compared to others that are 30 or 40.
Livewell also has two more villages in development, with plans to develop the three projects over the next five to seven years.
