for personal use only - asx · established in 2004, pfrl is a specialist retirement village and...

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Viculus LimitedJune 2008

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Background

Viculus Limited

� Viculus has been operating in the retirement and aged care sector for the past five years and owns and operates established aged care businesses.

� Viculus is seeking to expand its position to provide a range of accommodation alternatives to Australia’s burgeoning aged population growth.

� Viculus has signed an MOU to acquire the retirement living business conducted by People First Retirement Living (“PFRL”), including intellectual property, staff, management rights, development rights and leasehold interests over development properties.

People First Retirement Living

� Established in 2004, PFRL is a specialist retirement village and aged caredevelopment business with six project assets under development in Queensland and Victoria.

� PFRL’s key asset is a unique, first class seniors resort situated in South East Queensland which will, on completion, provide a fully integrated series of accommodation options for empty nesters through to the elderly.

Viculus is seeking to acquire specific development assets of PFRL and:

� Provide Board and executive management expertise to continue and complete the development of the projects;

� Provide capital to fund project development; and

� Provide specialist management for aged care operations.

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Highlights

� Various facilities in Victoria, both retirement village and aged care provide some portfolio diversification away from main asset of Beachmere.

Portfolio of projects

� The development is unique. It is the largest retirement resort development ever undertaken in Australia and has a number of outstanding characteristics:

– True resort-style accommodation that is environmentally friendly and caters for all retirement accommodation types on one expansive site;

– Over 1,300 dwellings to house over 2,000 residents on a 240acre property;

– Ideal location set in the popular South East Queensland region (and close to the Brisbane airport);

– Replicable model;– Commenced construction – clubhouse and 53 ILUs

completed, with 29 ILUs already occupied by residents.

Access to a landmark resort development

The highlights of the project are summarised as follows

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Development Projects

� PFRL has 6 projects underway. Predominantly in the retirement village space, these projects are:

– Beachmere Sands Lifestyle Resort (QLD)– The Range Latrobe City (VIC)– Macedon House Retirement Village (VIC)– Querencia Latrobe City (VIC) – completed– Monash Aged Care Facility (VIC)– Latrobe City Aged Care Facility (VIC)

� Viculus currently operates the Parkdale Aged Care Facility in Victoria

Pictorial representation of the fractional ownership condominiums at Beachmere on completion

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Proposed Development Timetable

2009 2010 2011 2012 2013 ForwardExisting

Monash Aged Care

Macedon House Retirement Village

Querencia Latrobe City

Latrobe City Aged Care

The Range Latrobe City

Townhouses

Faractional Ownership Condominiums

Aged Care

Serviced Apartments

Independent Living Condominiums

Independent Living Units 587 units

160 units

150 units

120 beds

190 units

180 units

100 units

120 beds

76 units

45 units

100 beds

The table below show the indicative development pipeline for Beachmere and the Victorian Properties

Please note that these dates are indicative only and subject to change.

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Beachmere Sands Lifestyle ResortTM

� The Beachmere Sands Lifestyle ResortTM

(“Beachmere Sands”) is located at Beachmere 50km north of the Brisbane CBD in South East QLD approximately 200m from beach frontage.

� Beachmere Sands is a multiple neighbourhooddevelopment staged over 10 years –scheduled for completion in 2018.

� Beachmere Sands is 40 minutes on the expressway from the Brisbane airport.

The Beachmere Sands Lifestyle ResortTM is a premier development

� Beachmere Sands is favourablylocated as well as being community oriented.

� Beachmere Sands represents an ideal retirement lifestyle, with a variety of accommodation types to suit individual needs.

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Beachmere Sands – Status of Site

� 240-acre resort style complex.

� Stage 1 development consists of the construction of 53 Independent Living Units (“ILUs”) and The Sands Clubhouse. The Sands Clubhouse is the first of several state of the art leisure facilities proposed for Beachmere Sands.

� The current profile of Beachmere Sands is:

– 53 ILUs have been constructed– 29 ILUs are occupied– 29 ILUs are currently under pre-

sale agreements

Beachmere Sands has a growing number of residents and with the completion of the first Community Centre current demand outstrips supply of completed units

Artist’s early rendition of completed resort

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Beachmere Sands – Award winning design

� The HIA awards are given for excellence in construction, design, innovation and technology in the housing and construction industry .

� “Villa Development of the Year Award”

This award recognises quality medium density residential projects. These projects typically include developments such as villas, townhouses or terraced developments.

� “Special Purpose Housing of the Year Award”

Beachmere Sands won this award for housing designed and built to meet the needs of active over 55 retirees.

Beachmere Sands won two major

Housing Industry Association - CSR (HIA) Awards in 2007

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Beachmere Sands – The Club House

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Beachmere Sands – Development Profile

20132009180Townhouses

1,387TOTAL

20132009190FractionalOwnership

20122010120Aged Care beds (low care)

20132011150ServicedApartments

20152011160Independent Living Condominium

20162007587IndependentLiving Units

FY18FY17FY16FY15FY14FY13FY12FY11FY10FY09EndStart

TotalAccomm Type Settlement ProfileConstruction

Portfolio Profile


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Beachmere Sands – Planning PositionBeachmere Sands is a staged development and will progressively settle sites and

obtain approvals over the next five years

� Beachmere Sands consists of:– 4 owned sites (160, 206, 218 & 230 Bishop Road)– 2 contracts to purchase (182 and 194 Bishop Road) scheduled to settle

January 2009

� Development approvals for the first stages of development at Beachmere Sands have been obtained.

� Achievement of remaining development approvals is expected over a five year period to coincide with construction program

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Other Retirement Village Projects

The Range Latrobe City

� The Range Latrobe City (“The Range”) is located in Latrobe Valley, Victoria.

� The Range comprises six stages of which stages one two are completed (27 ILU’s).

� When completed, the village is expected to house approximately 175 residents.

� The Range is located 2km from the Moe township.

100

Total

20092006Loan/LeaseILU’s

FY10FY09FY08FY07EndStart

Settlement ProfileConstructionOwnershipAccom. Type


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Querencia Latrobe City

� Querencia Latrobe City (“QLC”) is located in Moe, Victoria and is adjacent to The Range.

� QLC is a retirement village of 76 strata title one and two bedroom units all of which have been completed.

� Once fully occupied there will be approximately 100 residents.

� QLC provides serviced apartment accommodation.

74 years53%Full refurb. 2 years ago

Leased76ILU

Ave. Resident AgeFacility Occupancy

Age of VillageOperating Structure

TotalAccom. Type

Please note that these dates are indicative only and subject to change.For

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Macedon House Retirement Village

� The proposed Macedon House Retirement Village (“Macedon House”) is located at Gisborne50km west of the Melbourne CBD.

� The village site is situated within walking distance (200m) of the Gisborne township.

� Development approval is expected to be achieved in 2009.

� Macedon House comprises three development stages and is scheduled to commence mid 2009.

2010200945ILU’s

FY10FY09EndStart

Settlement ProfileConstructionTotalAccom. Type

Please note that these dates are indicative only and subject to change.For

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Aged Care Facilities

Latrobe City Aged Care Facility

� Situated on land adjacent to the The Range retirement village, the aged care facility will provide 120 low care beds in a modular single level building. Relevant development permits have been obtained.

Monash Aged Care Facility

� The Monash Aged Care Facility (“Monash”) is situated adjacent to Monash Medical Centre, one of the largest public hospitals in Melbourne. Development approval has been obtained for 80 low care and 31 high care beds.

N/AHigh

20132011120Low

FY13FY12FY11EndStart

Settlement ProfileConstructionTotalCare Type



20122011120Low

2012201130High

FY13FY12EndStart

Settlement ProfileConstructionTotalCare Type

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for personal use only - asx · established in 2004, pfrl is a specialist retirement village and...

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