There is an increasing expectation of a better standard of retirement living, which has created the opportunity for Integrated Retirement Communities ‘(IRCs’) and Retirement Villages to provide this in-demand offering.
In addition, within the higher needs-based care home sector, there is a significant under-supply of specialist dementia and nursing care. Many of the existing care homes are substandard, both physically and operationally, with insufficient modern facilities and amenities. The care home market is highly fragmented and has suffered from low fee income growth and high operational cost growth. This has created an opportunity to reposition under-invested, poorly managed homes with a target on dementia and nursing and to increase private pay contribution.