Australian Unity opens new home care branch to meet demand
Australian Unity has opened a new home care branch in Tweed Heads in response to increasing demand for services in the region.
Australian Unity has opened a new home care branch in Tweed Heads, in north-eastern NSW, in response to increasing demand for services in the region.
The new branch will provide services to 1,800 older Australians from the southern Gold Coast to Byron Bay, with that number expected to grow rapidly.
“This new branch has been two years in the making and we believe we have found the best location for our growing team to support more customers,” CEO for Independent and Assisted Living Kevin McCoy said.
Australian Unity’s Home Care Services, which include a specialised Aboriginal Home Care unit, offer a wide range of in-home services, including domestic assistance, personal care, allied health services, transport, in-home nursing and respite, shopping and meal preparation.
Growing SDA portfolio
Earlier this month the Melbourne-based mutual company, whose businesses include financial and healthcare services announced it had signed an agreement with real estate fund manager GreenFort Capital to develop a $40 million portfolio of Specialist Disability Accommodation.
The dwellings will be located across South East Queensland in Brisbane, Moreton Bay and Logan City, taking Australian Unity’s SDA fund to around $80 million in assets and programs.
The announcement comes a year after Australian Unity announced it was making its first foray into the SDA market with the acquisition of apartments in Melbourne’s eastern and northern suburbs and a $39 million capital raise.
GreenFort, a specialist in accommodation investing across retirement living, build to rent and student housing, will be responsible for site origination, design and development of the homes.
Second equity raise to be launched
General manager of social infrastructure Ryan Banting said the key to providing successful SDA is to create a mix of services and places for residents.
“Partnering with organisations like GreenFort who have a strong capability and track record of developing property to deliver positive community-focused outcomes further supports this objective,” Mr Banting said.
Australian Unity is set to launch its second SDA equity raise for $35 million and has appointed three executives to lead its social infrastructure activities.
They are Jacob Edwards, who will manage the SDA Fund, senior analyst Dean Zaccardo and portfolio analyst Matt Hibbert.
The SDA sector is expected to reach $700 million in annual funding once the NDIS is fully funded, with growing interest from investors and forcasts of a $5 billion asset class in coming years.
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