ACCESS

 

Prime deal for Carlyle?
Tony Raggatt business editor
5 January 2007
Townsville Bulletin
MELBOURNE-based retirement group Prime Trust is understood to be the buyer of Thuringowa's Carlyle Gardens as part of a retirement village buy-up worth up to 0 million.
Carlyle Gardens is owned by Bundaberg's Green family, which also operates independent living retirement villages at Bundaberg and Mackay.
Parties would not comment yesterday but talk is rife among residents at Carlyle Gardens that a deal has been done and is due to be settled later this year.
Residents were glowing in their comments about the lifestyle and facilities at Carlyle Gardens and appeared to be unconcerned about a pending deal.
"If (Prime Trust) is the group that is going to be buying Carlyle Gardens, I would not think there will be any concern," one resident said yesterday. "The general feeling of the residents is that it could be a good thing . . . they are a pretty big company."
Carlyle Gardens manager Leigh Bradley said she was not able to comment and referred inquiries to the Green Group's head office at Bundaberg.
A spokeswoman for the Green Group said any pending deal was not something the group was prepared to discuss, while a spokeswoman for the Prime Trust said she was unable to comment at this time.
There is speculation any deal for the three Green Group retirement villages could be worth up to 0 million.
Industry sources suggest Carlyle Gardens, which has more than 380 homes and approval for another 313 homes, could be worth more than million.
Thuringowa City Council approved the expansion plans last November.
At the time, Carlyle Gardens management commented that there was a dire need for accommodation for elderly residents and that the village had a long waiting list.
Argyle Gardens at Bundaberg has 323 homes, while Carlyle Gardens at Mackay is planned to have 290 homes.
Prime Trust is one of Australia's biggest owners of retirement village and aged care facilities, with a portfolio of more than 3600 retirement village units and 950 aged care beds in 34 locations.
Its current portfolio is valued at about 0 million with acquisitions of a further 0 million in the pipeline.
The trust has appointed corporate finance adviser Kidder Williams to advise on plans to list on the Australian Stock Exchange.
Chairman of the trust is former Liberal federal health minister Michael Wooldridge.

 

  Back