One of New Zealands largest village operators, Metlifecare, has sold its Nelson village to South Island investors syndicate that includes its village manager, Steve Davis, for $29 million a big number compared to Australia. The village has 92 ILUs, 46 Serviced Apartments and 48 care beds. ILUs average $275,000 and SAs $170,000. The DMF is 10% per year capped at 3 years and there is no capital gain. Nelson has a population of 43,000 making it the 9th largest destination in NZ.
DIGITAL EDITION
Think big. Think care campuses.
The gnarly problem: the lack of new ageing accommodation infrastructure over 20 years has hit the Baby Boomer demand bubble. Bad outcomes for old people are accelerating. Planning approval hurdles are cited as the root cause. Delay and bureaucratic...