Another council operated village and care operations sold after $500K losses per year

Dec 05 2011 Updated July 4, 2023

The Weekly Source

1 min read

Bland Shire Council has sold West Wyalong's Waratah Aged Care Village to Royal Freemasons Benevolent Institute after it made another $500,000 annual loss. First action is the redundancy of nine mostly part time nursing staff, replaced by two full time staff. How much the Freemasons paid is not known.

VCAT rules Lifestyle Communities’ DMF model illegal

Lifestyle Communities’ business model is under serious threat after a ruling by VCAT President Justice Ted Woodward found its exit fee structure to be illegal. The ASX-listed land lease operator, which was valued at $861.9 million and placed in...

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Ian Horswill

07 Jul 2025

Mergers & Acquisitions

“Aveo is a fantastic business, run by a fantastic management team”: Scape CEO Stephen Gaitanos backs landmark $3.85B acquisition

Scape Australia CEO Stephen Gaitanos has praised the leadership of retirement living operator Aveo, following its acquisition by The Living Company – Scape’s parent – for $3.85 billion, in what is now the largest direct real estate transaction...

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Ian Horswill

30 Jun 2025

Community Living

Catholic Healthcare investing $600M to build connected communities across NSW

One of Australia’s largest Not For Profit providers of home care, residential care and retirement living services, is investing over $600 million over the next five years in five innovative connected communities in New South Wales. “We’ve spent...

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Ian Horswill

07 Jul 2025

Government Policy

Regulator locks in new liquidity standards for aged care providers

The Aged Care Quality and Safety Commission (ACQSC) has released its consultation report on the draft Financial and Prudential Standards set to come into effect under the new Aged Care Act from 1 November 2025 – and as expected, the core liquidity...

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Lauren Broomham

03 Jul 2025

The burning physical, moral and financial question for village operators: how to exit frail residents?

We have been talking about this for some time, but now others are waking up to the significant calamity emerging for village operators. CBRE has just released is 2024 Seniors Living Report which states that (over the last 3 to 4 years) “in reality...

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Chris Baynes

23 Jan 2024

The Village Professional

Topic - Developments

4,335 new village homes and $1.73B a year required to maintain retirement village penetration – but marketing courage is required

This week I received an email from Alok Kumar, CEO of Omega Communities in Adelaide, asking if we had information on retirement village penetration in New Zealand and Australia. It is a subject worth revisiting for all RV operators. The New...

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Section Editor

12 Apr 2022

The Village Professional

Topic - Developments

First sod turned on RetireAustralia QLD’s The Green in Brisbane

Work has begun on RetireAustralia’s $80 million development The Green in Tarragindi, 8km south of Brisbane’s CBD. We reported on the joint ventures of retirement villages and golf clubs last year and RetireAustralia, whose CEO is Dr Brett...

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The Weekly Source

31 Aug 2021

The Village Professional

Village customers stronger than ever, despite or because of COVID

It shows that last year in September just under 3,800 people searched for a retirement village each day on villages. com. au

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The Weekly Source

24 Sep 2020