Next generation living
Over 140 people attended the latest retirement living breakfast held on Friday, 9 October, to hear from industry experts from technology, building design and financial services sectors.
The speakers for the event included David Waldie- Managing Director, Frontier Networks, Kelly Miller – General Manager – Development and Design Retirement Living, Stockland, and Martin Cox – Senior Investment Manager, Morrison and Co.
Martin Cox provided a presentation on the future retirement living funding models, firstly by setting the scene and explaining the current funding models that exist for retirement living. He then outlined to the audience the threats that exist to the DMF model, including the baby boomer generation being more sophisticated and financially savvy, and that residential apartment complexes are providing increased levels of amenity and services. Therefore, operators will need to provide continuum of care, other services and pricing innovation to compete.
Following on from Martin’s presentation, David Waldie spoke about how digital technology will increasingly allow seniors to stay in their own homes for longer. The challenge for existing and new villages will be to provide the infrastructure and technology that the next generation will demand. Villages both now and into the future will need to provide the technology for residents to stay socially connected, provide entertainment options, and access online health care.
Kelly Miller rounded out the presentations with a focus on the industry needing to invest in built form innovation to remain a viable seniors living option. Kelly argued that the built form hadn’t changed in 30 years and that the sector must embrace innovation in order to attract a larger market share. To respond to this challenge the built form will need to be adaptive and enable services to be delivered to different demographics.
Following the presentations, Tim Russell – Adviser, Retire Australia, moderated a panel discussion. A number of topics raised during the presentations, such as new financial models, digital disruption and refurbishing or upgrading assets were discussed.
The event also provided the opportunity to announce the winner of the 2015 Queensland Manger of the Year Award. Mandy Julian – Carlyle Gardens was crowned the winner of the award with Lea Peard – Keperra Sanctuary the runner up.
The Property Council would like to thank our speakers, Martin Cox, David Waldie and Kelly Miller, as well as our moderator, Tim Russell, for taking the time to share their views on the future of retirement living.
Thanks must also go to the Retirement Living breakfast series host Minter Ellison, and Sponsor Broad, for their support.
Photos from the event can be found here.
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