(02) 9371 0576

Contact Us

Lavington Lodge Albury

After we sold the Hampshire Hotel and the Airport Lodge, we had a brief stint of renovating properties in Queensland. We acquired a 32 perch block with an old weatherboard house, and subdivided the land into two 16 perch blocks. Then we moved the existing house to one block and renovated the house and sold it. This left us with a spare block of land to develop.

In 1994 Income Tax concessions had been made to bring forward capital costs in building Retirement Villages. As a results many high net worth investors were induced to form syndicates to buy properties with a view to developing retirement homes. These concessions were going to be withdrawn in 2002, which meant that there was an urgency to commence the projects, or sell out. These projects were develop under Sepp 5A and had a greater site density than would otherwise been given.
We were approached by developer who had picked up a project and required mezzanine finance until they could get a new investment syndicate to fund the development. This led us to consider the viability of investing in the retirement sector.

In September 2004 we completed construction of the first 24 assisted care apartments at Lavington Lodge. The facility had all the infrastructure operational and support service amenities including Kitchen, Dining, Laundry and Activities and Lounge rooms, available for resident in a state of the art Class 9c compliant building. Residents are provided with all meals, laundry and other services such as pharmaceutical care. The apartments could accommodate a married couple or siblings, meaning that the maximum occupancy was 48 people.

Later that year Albury Council granted a Development Consent Approval for the construction of 32 additional units on the site. When we sold the facility to Southern Cross Care, they could readily see the benefits of transferring bed licenses to this nursing home, and extending the facility.

We had run accommodations and food and entertainment with hotels and in this respect managing the staff and operations were not very different. What presented a challenge was the complexity of the legislation around the Retirement Village Act, the Aged Care Act and the various regulatory regimes we operated under.

Marketing these apartments meant keeping constant community awareness, and liaising with the Aged Care Community in a wide geographical area. Many of our clients came from distant towns and farms in both New South Wales and Victoria to Albury for medical services.

Lakes Hotel Gardeners Road Rosebery

Our family company had been operating hotels in New South Wales on brewery leases. In 1982 Random Breadth Testing was introduced in New South Wales and the Neville Wran Premier of New South Wales told the hotel industry that they would be allowed to have… Read more

47 Wentworth Avenue

Our accounting practice was leasing premises in York Street and we were faced with a steep rent review. We decided to look for premises to relocate the accounting practice to. 47 Wentworth Avenue was a 4 storey warehouse and office building occupying a small… Read more

Hampshire Hotel Camperdown

We realised early in 1987 that asset values were very high and the yields on which you could sell assets was too low. We sold both the Lakes Hotel and Wentworth Avenue by the middle of 1987 and kept our funds in cash. We went overseas for 3 months to come… Read more

Airport Lodge Botany

We had cash at our disposal it was time to invest again in underpriced assets. We recognised the need for budget accommodation near Sydney Airport. The sites we were offered carried too much risk in terms of financial commitment. Having purchased the… Read more

Lavington Lodge Albury

After we sold the Hampshire Hotel and the Airport Lodge, we had a brief stint of renovating properties in Queensland. We acquired a 32 perch block with an old weatherboard house, and subdivided the land into two 16 perch blocks. Then we moved the existing… Read more

Lavington Gardens

We had a land bank adjacent to the Lavington Lodge Aged Care facility that we had built, and we obtained a DA from Albury Council to build 20 two bedroom retirement homes on these sites. These were to be built in 4 stages of 5 houses a stage. We marketed the… Read more