Quail Ridge Country Club
A retirement village to be proud of
As Executive director of Senior Trust Capital a specialist investor in the retirement village sector I listen with interest to the public debate regarding the increasing number of high density, large scale retirement villages appearing on the New Zealand landscape. Recent newspaper articles regarding what have been termed large scale “institutional” retirement villages are not to every-ones liking but thankfully they are not the only option open to a wave of senior New Zealanders entering into retirement.
Just like the hotel industry 50 years ago, the retirement village industry is undergoing a change whereby segmentation involving budget, midscale and luxury products are evolving.
Based on demographic forecasts, it is almost inevitable that just over 11 new villages are required annually for the next 20 years in New Zealand for the industry to just keep up with demand. We estimate that to meet this target, half of these villages will need to be developed by independent operators rather than the public corporate operators, and that these independents will dominate the luxury segment.
At Senior Trust we are focused on supporting experienced, skilled, independent operators in developing new or expanding their existing villages who understand their product offering. By providing development capital to expand, we can deliver a premium return to our investors and play our part in supporting the industry in meeting demand where it is needed.
Senior Trust has had a long association with various independents including The Cottle Family and their excellent management team at Quail Ridge Country Club, who in my opinion have developed a truly outstanding village
I quote from the Senior Trust website: www.seniortrust.co.nz
“The village layout, and the quality of the design, build and fit-out are as good as any I have seen in my 17 years involvement with retirement villages.
The village has received excellent support from the market, with dramatic increases in sales values and future dwellings sold well in advance of construction as residents recognise the premium offering compared to its competition.
Quail Ridge uses the Occupation Right Agreement (ORA) model that has been developed by the industry and is recognised by regulators and advisors. The Kiwi way is now seen globally as the way forward and a benchmark for many countries including the UK and Australia. We observe with pride several New Zealand operators exporting their success to new villages in both these countries.”