The Road Ahead for Seniors’ Housing

The Property Council of Australia’s Retirement Living Breakfast: The Road Ahead for Seniors Housing, was held Friday 4th May 2018, at MinterEllison, 1 Eagle Street Brisbane. 

Guests heard from Darren Timms, Managing Partner of Marketability; Adrian Puljich, Director and CEO of Gemlife Group of Companies; and Tim Russell, Director of Aura Australia Holdings. 

 Guests were given an exclusive preview at the exciting, new developments, currently in the pipeline for the Brisbane retirement market. 

Darren Timms explained there are 4800 new retirement units planned in the central Brisbane area, up to 90% of these will be apartments. 

This is a transition away from the typical retirement village model that we have seen for several years. “It is a pretty exciting road ahead. We’re going to see some changes” Darren added. 

Adrian Puljich also discussed the changing expectations for retirement living. He believes ,000 new retirement units will be needed in the next decade to keep up with the aging population. While key players have previously dominated the industry, Adrian holds that these changes will give rise to new business opportunities. 

Tim Russell also expressed a need for change within the sector, but voiced concerns that the industry has not clearly articulated value in its product. He stressed the need for appropriate accommodation, good design and providing quality care at a reasonable cost. 

“I think the Retirement Living Council’s 8-point-plan shows good governance. We have to convince people we are the right choice to look after them.”

The panel also agreed that key industry players need to adapt models to suit their customers’ needs, encouraging companies to steer away from a one-size-fits-all outlook. 

The Property Council would like to thank the speakers who participated in the Retirement Living Breakfast and MinterEllison for hosting. 

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