Aged Care Finance
At Zenith Finance, we are progressive, inventive and strive to be good corporate citizens in the area of finance. Through our Seniors Housing and Aged Care Finance division, we blend the best of each.
Call Sam Leon on on 1300 288 874 to discuss financing for aged-care housing.
Australia’s Age of Ageing – 60 is the new 40
It’s no news that Australia’s population is ageing fast. More and more people:
- live longer
- work well into their 70s and 80s
- have children in their second, third and fourth marriages.
Retirement has shifted from a “door closing” to a “door opening” stage of life. Even from the age of 50, people are starting to think about a new quality and quantity of lifestyle when they finally do retire – enjoyed around people they connect with.
This has led to planning and development of ‘lifestyle living’ communities based around entire ‘tribes’ of people. It goes way beyond simple sea-change and tree-change moves.
A huge growth in ‘lifestyle living’ communities
We are now seeing:
- affordable gated communities
- 24-hour concierge service and security.
- pools, tennis courts, coffee shops and outdoor barbecue areas
- silver service dining rooms
- putting and bowling greens
- beauty salons
- fully equipped gymnasiums
- organised activities
- high-speed cable Internet
- adjacent golf course
- function centre
- and much more.
We have seen developments themed like an Italian village – cobblestones in the “ marketplace”, pizzeria, alfresco dining, bubbling brooks and little waterfalls.
Mega campuses heading to Australia
Then there are the mega campuses – yet to appear in Australia, where entire villages of self-care and low-care homes and home units, sit alongside medium-care and into high-care facilities and ultimately a Hospice.
These huge developments will find their way into the Australian way of life within a decade. And they require large and sophisticated financing.
The changing face of aged care
Yesterday’s grim nursing home has given way to today’s modern, airy, high-quality and government compliance-standard legislated, low, medium and high care mature-age living facilities. These projects cater to a growing clientele that are spread across the socio-economic spectrum.
Thousands of new seniors bed licences
In February 2010, 2,224 new bed licences have just been released in NSW alone. This means between 20 and 30 new seniors housing developments will commence in the next 12 months, mainly in the greater Sydney area.
Across Australia the number is 12,218 new bed licences.
The maximum funding provided by the Australian government towards community assistance with these developments is $150 million. That’ more than most international governments provide, but still way too little for a need that is way too great.
Specialists in Seniors Housing and Aged Care Finance
Our Seniors Housing and Aged Care Finance division provides a unique, specialised and very necessary service.
Headed by Sam Leon, senior consultant in retirement and aged housing finance, our team specialise in the retirement and aged-care housing sectors.
Sam has studied ageing, aged care housing and both retirement and aged care financing for 10 years. He has been a long serving director of the Whiddon Group (Frank Whiddon Masonic Homes), a consultant to several retirement village developers and a consultant to a specific, market- focused, high care aged property-developer.
Established with funders
Sam knows and is known by all of the major funders in this specialised field. He is familiar with their requirements, documentation, LVRs, valuation requirements and funding preferences. He speaks their language – and equally important, he speaks your language.
Sam was the opening speaker on day 2 of the Aged Care Association of Australia’s NSW conference in the first quarter of 2010.
Like to discuss your development in confidence?
Sam is available any time should you wish to discuss your proposed or approved development in complete confidence.
Call him on 1300 288 874