Achieving aged care scale seems to be the operative words across Australia. Anglicare ACT & South & West NSW, when making the decision to sell out of aged care, refers to an independent study they commissioned which stated that a notional target of 1,000 beds is generally accepted to achieve a breakeven portfolio. They have placed five facilities with 394 residential aged care beds up for sale - and have received over 30 expressions of interest. Port Augusta City Council wants to privatise two facilities and a village. They have received five submissions in six weeks. The Victorian government has outlined plans to privatise government owned aged care beds to deliver a potential saving $75M. They are being sold one by one with the latest acquisition being by Southern Cross Care. While there are benefits to scale, many operators have demonstrated that individual care facilities can be sound, profitable businesses.
18,650 social and affordable homes funded as 370 homes set for repurpose
The Australian Government’s flagship Housing Australia Future Fund (HAFF) has agreed to fund 9,284 social and 9,366 affordable homes through 279 successful projects under the first two funding rounds of the HAFF and National Housing Accord Facility...