We heard last week that Ryman staged its first Open Day to present its new care facility at its Box Hill low rise village. 650 people attended in just three hours.
The leading village operator in New Zealand, this is their first Australian location. They opened Stage One last May and are now selling Stage 4. (Stage 1: 65 units; Stage 2:33 units; Stage 3:32 units – 130 units sold in 9 months or 14 per month).
On completion they will have 206 units plus 51 assisted living (serviced apartments) and 60 care beds.
Approximate pricing per village unit: one bed $399,000, two bed $540,000, three bed $700,000.
Assisted living is offered at: $329,000 with 5% on entry plus 4% per annum.
A snapshot of the village contract:
- Weekly fee fixed for life
- All fees stop when you go on vacation
- 4% per annum DMF; maximum 20%
- No capital gain share
- Guaranteed payout after six months
- Aged care bonds are $350,000-$545,000
