The successful retirement arm of Becton has had to shelve further development plans given the financial strain its parent Becton Property Group is under. They have sold a long held development site in eastern Melbourne for $7.1M to retire debt to Bendigo & Adelaide bank. They also have a Suncorp facility that has to be refinanced by end July valued at $73M. About 50% of Becton Retirement is owned by the Oman governments Oman Investment Fund which invested originally because of the Becton village development pipeline. That no longer seems to exist.
The Weekly SOURCE
Retirement living for the “well-heeled”: Residents begin to move into Retirement by Moran’s second venture: Sage in Cronulla
Shane Moran, the Founder and Chief Executive of Retirement by Moran, concedes admission to his residences is “not inexpensive”. Sage is an eight-storey development of 37 two- and three-bedroom apartments. The art-deco- meets-coastal-chic...