Simon Owens Ingenia has reported an 86% increase in its unit price over the past 12 months, during which it transferred from ING Real Estate Communities to its new entity Ingenia. Since June the unit price has increased from 19 cents to 28 cents alone. He claims there is room for more growth to the mid-30 cents level. Their nominal profit was $13.1 million.
After eight years of rental villages being basket case investments Ingenia states their higher occupancy levels are generating a 42% ave. margin and a $5,400 ave. profit per unit per year. Each rental unit is now valued at $59,000.
Government Policy
A rights-based aged care system: who is the government kidding?
The government claims a rights-based aged care system, but delays, rationed care, and massive waiting lists tell another story. 88,000 are waiting for home care and even Health Minister Mark Butler says almost every aged care facility he visits is full.