Agreed. Zero incentive to get off the benefit and work full time when you are effectively working for $4 or $5 an hour.
Printable View
“Bellevue is a finalist in the Retirement Living and Aged Care category for the upcoming Property Council New Zealand Property Industry Awards.
The development comprises 68 independent living apartments and 71 assisted living care suites.“
Winner wil be The Helier
After all the category is sponsored by Oceania
Couldn’t allow a Ryman or Summerset or Metlifecare place win
https://www.propertynz.co.nz/property-industry-awards
Can always rely on you for a cynical spin. To be sure, Oceania have no say in the judging and frankly as category sponsor I think it will work against them (the optics and all that). Besides, I would doubt that the Helier could win, it is too niche high end, unique and not typical of any other NZ RV's, it's targeting the very wealthy who have no need for government subsidies and want a '5 star hotel' style retirement living with all the bells and whistles. Bellevue on the other hand is pure RV, continuum of care and exceptional quality. I think it has a better chance of winning than The Helier.
I really wish and would like for all of you who have no interest in discussing OCA here, just far cough. The OCA thread is not a proxy thread for all that ails mankind, nor is it a repository for bored non-never-shareholders to vent their spleen on numerous other unrelated matters. Go away, find somewhere else to express your views on non-OCA matters.
All of the arguing on here is exactly why I would never consider living in one of these Villages.
From an investment point of view. I will invest at rock bottom prices. OCA is not at the bottom yet as this cycle still has time to run.
Well you won't know if it has reached the bottom until after it was there. The stock market is a forward looking machine so the share price often rises before the financial results do. OCA is currently trading at 43% of NTA per share. At some point either the share price will rise or there will be write-downs to bring the NTA down.
I keep people quoting the NTA.
The NTA is bull****.
They get around 20% back after refurb costs on each DMF. This is the asset valuation on each existing villa. That's it. It might only be a tight to occupy They sold, but the liability of buying back the asset at 70% + reburb costs works out to about 150K per unit and that's future value not npv.
The care suites lose money. Asset valuation?? Zero?? Perhaps a slight valuation as people sign up for villas knowing they have somewhere to go to finish out their days.
Then you have undeveloped land, villas etc less $600M of debt.
The real NTA would be lucky to be the current market cap in my view.