Village Life taps into new sector
Village Life has tapped into what it claims is a new direct property sector.
The group is building retirement villages around the country, and offering units to investors who will then earn rental income. One village has already opened in the Brisbane suburb of Capalaba and is fully occupied. More villages will open in NSW and Victoria in the near future, with other states to follow.
Village Life has tapped into what it claims is a new direct property sector.
The group is building retirement villages around the country, and offering units to investors who will then earn rental income. One village has already opened in the Brisbane suburb of Capalaba and is fully occupied. More villages will open in NSW and Victoria in the near future, with other states to follow.
says the waiting lists have so far "outstripped unit availability".
The investment is being marketed by Village Life in conjunction with Pacific Eastcoast to about 700 advisers. So far, there are no plans made to offer the investment direct.
"This type of investment is particularly attractive to the private investor be-cause the price tag of up to $90,000 for the units is a fairly low entry one for the direct property market," says Village Life chairman Neville Blunt.
Both Blunt and Pacific Eastcoast NSW general manager Maree Thomas say the scheme also provides an ethical investment in the direct property market, appealing to young investors and the families of retirees moving into the villages.
Village Life estimates investors will receive a net return of between 6 and 6.5 per cent for the investment, with possible significant tax benefits including first year depreciation.
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