Madgwicks has an excellent reputation for assisting clients in the acquisition, development and management of retirement villages and aged care facilities.
Our clients have taken various approaches to acquisitions either acquiring the land and buildings with managers, operating the business, acquiring properties and business and operating the facilities and developing new villages.
Our experience in the Retirement Villages and Aged Care area includes:
Acting for a listed property trust and other syndications in the acquisition of retirement villages and aged care facilities across four states:- two recent acquisitions being a group of three villages in Queensland comprising 1200 units and nine residential villages in Queensland, New South Wales and South Australia;
Advising on complex stamp duty, GST and other property tax matters;
Acting for Responsible Entity and liaising with the Custodian in relation to the acquisition of properties, leases and security documentation;
Drafting and negotiating contracts of sale, land and businesses, management agreements, marketing agreements, option agreements and a variety of residents' agreements;
Advising on the legislation governing the industry including Retirement Village Acts for Victoria, NSW, QLD and South Australia and the Aged Care Act (Cth);
Property investment and loan agreements for retirement villages with a buy out on completion of construction;
Sale of management rights; and
Structuring of corporate entities for holding and operating facilities.
