MET - Metlifecare - one for the fundies?

[macduffy]

Yes, they're different breeds of dogs. RYM was built from scratch, MET has inherited others' business decisions to some extent.

[Bjauck]

Depends on what value you put on 'social' things instead of dollars on a balance sheet

The new owner may be more in tune with "local conditions" so it could be a win-win-win for the new owner, MET, and the villagers.

Looks like this dog has more than just fleas. Can't remember the last time that RYM or SUM divested a village...

At least it seems the tough decisions are being made. Do we see IFT's hand in this?

[percy]

The village has been sold,so what.?
It has not been closed.
An opportunity for the new owner.
May turn out they care more about their residents than MET did.
Could be a winner winner situation?

[Lewylewylewy]

Wow, some really toxic feelings towards MET

[Bjauck]

Wow, some really toxic feelings towards MET

Not from me - the sale of the Wairarapa Village to another owner does not indicate any greater lack of social conscience when compared with other operators, such as SUM or RYM, some of whom currently extract greater profits from their land ownership and operations. If social goals are required then I think that is up to central government to direct and fund on behalf of all the people of NZ.

[Beagle]

Interesting article behind the pay wall at NBR. There are 80 units and 40 care beds. $6m is much less than the implied $75,000 per unit as the sale price includes the care bed facility and all common area's and common area facilities. Incoming CEO didn't know the book value of the village when approached by NBR...my goodness, confidence inspiring stuff isn't it !
You want a dirt cheap place to retire too ?..now we know where !

[mondograss]

In the Herald today:
http://www.nzherald.co.nz/business/n...ectid=11626949

[Bjauck]

...
You want a dirt cheap place to retire too ?..now we know where !

Dirt cheap or realistic? I do not imagine the Wairarapa Village is brand new or in a place like Auckland, where restricted land supply, immigrants, unrestricted foreign investors and local investors are bidding up land values and squeezing out first home buyers and others.

[Beagle]

Yeap that's a given mate. Just pointing out there are other ways to skin the retirement cat. Some people are reaching retirement age with very little in the way of invested funds, (hopefully nobody on here).
If they sold their average Auckland home for say $900K and bought a retirement unit in this village for say $75K that would give them some nice options for enjoying their retirement years wouldn't it !

[winner69]

Yeap that's a given mate. Just pointing out there are other ways to skin the retirement cat. Some people are reaching retirement age with very little in the way of invested funds, (hopefully nobody on here).
If they sold their average Auckland home for say $900K and bought a retirement unit in this village for say $75K that would give them some nice options for enjoying their retirement years wouldn't it !

Wairarapa a great place - martinborough vineyards and cafes, greytown arts and cafes, castlepoint for beach and fishing etc etc

QV says average house price in Masterton is $248k - going up about 3% a year lately