Investor set to pump $21m into disability housing assets
LONDON: A $27bn mutual company with property across the country has been revealed to have invested $21m into several disability and childcare assets across the region.
One of Australia’s largest private companies has invested more than $20m into childcare and disability assets across the Toowoomba region, in a bid to gain market share in two growing sectors.
Mutual firm Australian Unity, which was recently hired to find land for the new Heritage Bank headquarters, revealed it was behind three new specialist disability accommodation (SDA) properties in Toowoomba, at a cost of about $6m.
The three properties, two on Berry Street in Wilsonton and another on Hogg Street in Rockville, will house up to 14 people with disabilities.
AU social infrastructure general manager Ryan Banting said the SDA property market was growing rapidly, thanks to being underpinned by hundreds of millions in government funding.
“We’ve bought specialist disability accommodation, but it’s purpose-designed for people who qualify for housing support through the National Disability Insurance Scheme,” he said.
“The creation of the NDIS in 2016 really saw and led to the creation of a specialist disability accommodation sector.
“The NDIS is going to fund the SDA sector to the tune of $700m per year and that will provide rental support for people who are living with a disability.
“Specialist accommodation was a way for us to contribute to the community.”
It comes just a few months after AU spent $15m on three Kids Club Childcare centres in Toowoomba and Pittsworth.
Mr Banting said childcare centres remained a stable real estate market for large firms like AU to invest in.
“What we’re looking to do is work with strong operating partners that we can work with to either build new or refurbish existing assets,” he said.
“We’re going to provide the best-in-market facilities for children that go there.
“These childcare centres are supported by funding through the childcare rebate so parents can pursue full-time employment.”
