Reporting to its unit holders, prime trust acknowledged that their sale rates for their 12 core retirement villages (3,600 ILUs) has dropped from 7% to 8% to just 4.5%. This equates to a 40% decline on sales expectations and cash flow. They have 200 ILUs vacant (the equivalent of one entire village) but just 50 with deposits made. At $350,000 per ILU, the 200 properties equate to $70 million.
DIGITAL EDITION
Still waiting: the human cost of delay in aged care assessments
When Meghan Hird submitted a referral to My Aged Care for her father in September last year, she never imagined they would still be waiting 10 months later. In that time, her father’s Alzheimer’s has progressed from early signs to mid-stage...