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.
The Weekly SOURCE
66 recipients of Aged Care Capital Assistance Program grants announced
The Australia Government has announced 66 recipients of its Aged Care Capital Assistance Program with grants worth $300 million. The largest - a grant of more than $50 million - has gone to Southern Cross Care (QLD) to build a new 94-bed residential care home in Broken Hill, NSW.