Location iQ was engaged by Haben Property Fund to provide a market potential assessment of aged care and retirement living facilities at Cleveland Central. Haben Property Fund is a specialist property investor and manager of direct property investments with a range of assets across the East Coast of Australia.
Haben Property Fund purchased Cleveland Central in March 2019. As part of the asset planning process, Location IQ assisted Haben Property Fund in reviewing the opportunity for aged care and retirement living facilities at Cleveland Central.
Providing retirement and aged care facilities in strategically and financially beneficial locations is crucial for Australia’s ageing population. Key areas of research by Location IQ included:
- A review of the regional and location context of the site.
- Definition of the catchment area for aged care/retirement facilities at the site.
- Analysis of the current and projected population levels of retirement aged persons.
- An audit of the existing and future supply of aged care and retirement facilities, including vacancy rates.
- Highlighting key drivers of demand for retirement and aged care trends within the region.
This analysis of supply and demand metrics was used to determine an overall view of the capacity in the market for additional aged care/independent living units, including the likely number of beds that would be sustainable at Cleveland Central.