Settlers Rockhampton is one of five retirement villages part of the Settlers Group portfolio that is going on the market.
Settlers Rockhampton is one of five retirement villages part of the Settlers Group portfolio that is going on the market.

Rocky aged care for sale after receivers move in

RETIREMENT accommodation entity, Settlers Group, has put its entire business and operations on the market, including its facility in Wandal Rockhampton.

The Settlers’ Wandal complex consists of 74 units housing 69 residents and is one of five up for sale.

On August 28 this year, Joseph Hansell, Ian Francis and John Park of FTI Consulting were appointed Receivers and Managers over the Settlers Lifestyle Group.

On Tuesday, the Receivers commenced a formal campaign to sell, with a total of 687 separate units accommodating more than 1000 residents across the five villages at Rockhampton, Gillieston Heights, Forest Lakes, Ravenswood, and Ridgewood.

The villages contain a total 687 units and 1018 residents.

Jones Lang LaSalle has been appointed sole sales agent.

LaSalle’s Noral Wild said the agent had dealt with a few village receivings before.

“It’s usually a good experience for the residents when a new owner is in there,” she said.

At this stage there has not been a value priced on the portfolio.

While the sale campaign envisages an ‘in one line’ sale of the entire Settlers Group portfolio, the Receivers and Managers are considering all offers in relations to the individual villages, meaning investors can snap up a piece of Rockhampton’s aged care market on its own.

The ultimate sale of the portfolio will be determined by the offer that achieves the best outcomes for all stakeholders.

Depending on the offers received, the portfolio may be broken up through a sale to more than one purchaser.

During the sales period there will be no disruption to residents and the facilities will run as usual.

The facilities are to be sold by way of Expression of Interest campaign, which will conclude on November 29.