Love Ageing

Perth leads in village design

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Last week in Perth we were keen to visit Bethanie’s new 48 serviced apartment development at Menora.

A stand-alone four-storey tower adjacent to Bethanie’s existing village and beside their aged care facility in early development, the one and two-bedroom serviced apartments with generous balconies set a new standard for supported living.

Priced from $685,000 which is comparable to surrounding homes, sales leader David Harrison explained Bethanie’s new two option DMF structure.

Option One: ‘Guaranteed Exit’: DMF based on the Entry Price: 5% pa x 6 years capped at 30%, reserve fund contribution of 1% pa capped at 10 years, no refurbishment costs, buy-back based on the Entry Price 45 days after vacating.

Option Two: ‘Market Value’: DMF based on the Exit Price: 5% pa x 6 years capped at 30%, reserve fund contribution of 1% pa capped at 10 years, resident responsible for refurbishment costs, buy-back based on the Exit Price and paid on settlement of the resale.

We also met up with St Ives Retirement CEO John Ford who took us on a tour of their new Carine village.

It features the best external space design and largest balconies we have seen in a retirement village (averaging 20+ sqms).

St Ives is owned by the Royal Automobile Club of Western Australia and is WA’s largest private village operator.

St Ives Home Care is one of the few services that operates across the major states and is in a state of rapid expansion now that it has sold 50% into a joint venture with Quadrant Private Equity vehicle Home Care Holdings.

Quadrant Managing Partner Marcus Darville is speaking at our LEADERS SUMMIT and seeks to create more home care partnerships with Not For Profit operators.

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