RYM - Ryman Healthcare

[Sauce]

[QUOTE=percy;342517]

Hi Percy,

Sauce,
Sorry to edit your spledid post but I think the above is THE MOAT Buffett refers to.

Not a doubt in my mind Percy

Cheers

Sauce

[mamos]

Stephen R at Macquarie upgraded target price yesterday.

He has an even higher build rate forecast out into the future to meet demand.

[scamper]

Lots of local excitement and ODT newspaper stuff about the opening of the Yvette Williams Village in Dunedin.
There are apparently just two serviced apartments left, and although officially opened with some residents already there, the place still looks like a building site. From the street, it looks as if the opening should be weeks away, but I guess the inside is all up and running.

[percy]

Lots of local excitement and ODT newspaper stuff about the opening of the Yvette Williams Village in Dunedin.
There are apparently just two serviced apartments left, and although officially opened with some residents already there, the place still looks like a building site. From the street, it looks as if the opening should be weeks away, but I guess the inside is all up and running.

scamper,
I have noticed this "building site" at other Ryman villages.No one seems to complain ,just happy to be there.I suppose RYM make sure residents know how long the builders will be there.

[Sauce]

scamper,
I have noticed this "building site" at other Ryman villages.No one seems to complain ,just happy to be there.I suppose RYM make sure residents know how long the builders will be there.

Hi Scamper, Percy

People who buy off the plans or during construction are given a discount of approximately 10%. This allows RYM to sell down their project before completion, and also settle the development in "stages" so they can get revenue in before the entire development is finished.

So residents who move in before total completion are compensated in a way. This is how it is sold to residents.

Cheers

Sauce

[percy]

Hi Scamper, Percy

People who buy off the plans or during construction are given a discount of approximately 10%. This allows RYM to sell down their project before completion, and also settle the development in "stages" so they can get revenue in before the entire development is finished.

So residents who move in before total completion are compensated in a way. This is how it is sold to residents.

Cheers

Sauce

offcourse.thanks sauce.

[scamper]

What a great idea! hope they open another one in Dunedin in the next 20 years....
my parents are very happily ensconced in the Frances Hodgkins village here.
it's a banana-shaped high-rise tucked into the volcanic cliffs overlooking St Clair Beach, the Harbour, peninsula and city etc.
Large balconies and fabulous views...

[percy]

What a great idea! hope they open another one in Dunedin in the next 20 years....
my parents are very happily ensconced in the Frances Hodgkins village here.
it's a banana-shaped high-rise tucked into the volcanic cliffs overlooking St Clair Beach, the Harbour, peninsula and city etc.
Large balconies and fabulous views...

Have only seen it from a distance,but I would think it would be a lovely place to live in. Glad your parents are happy there.

[percy]

Some retirement homes in ChCh [Kate sheppard,not a RYM home] have been destroyed and will not be rebuilt.Owners and occupiers are in limbo as they do not know how much or when they will be paid out.The amounts occupiers will get will not be enough for them to buy a unit in another home.Retirement homes can not let these people occupy a unit until such time they can pay for it.Catch 22.
Result.Homeless oldies. Others will have to live with family,or friends?

This was featured on Campbel live to night.I did hear new earthquake proff foundations have recently been completed at Kate Sheppard.The latest liquidifacation have ruined them too ! !!!
On this issue RYM have come out on top by putting residents interest first.well done Simon Callis and team.
I would suspect the owner Lance Bunting would have all his capital in this village and would not have the resources to help out residents.He would most probably have it mortgaged,so he looks to be the biggest loser.The lawyers will do well.

[CJ]

The lawyers will do well.

I am not so sure. The legel agreement will be pretty specific on what happens. The residents will be getting back their entry payment less the exit payment.

Residential and commerical tenants dont get insurance proceeds even though they pay the insurance premiums (implicity (through rent) or explicity respectively) so why should Village residents??? The issue is Residents pay a large upfront payment in return for a 'discounted' rental while they remain a resident.

Before I get called mean, I do see both sides. I haven't done the maths to see how it would work if the Resident did get the insurance but in theory it would leave the village operator with a big loss (a distroyed village with not enough money to demolish and rebuild).