OCA - Oceania Group - retirement villages

[Maverick]

I somewhat doubt this particular site has reached the "inflection point" but when it does.

Great job Cyclical! Definitely a reputation comment for you.
I can't access the photos but your descriptive story is plenty to go by.
They are building 63 apartments and a community center so I suspect the smaller car park building will be that (but I'm not sure,it wasn't there 3 months ago).


As far as inflection goes , that site is a good example of it being reached. They bulldozed 106 care beds and now have 90 fully operational care suits instead. It will now be mostly full of full fare clients (rather than the existing guys “grandfathered in” from the demolished beds) .
So you can bet your wad of free cash that the site will be making more money now than before the project commenced. That sizeable area of dirt they have unlocked and are building on is not costing them anything.
It's when the 63 apartments get sold that the super profit rolls in. They also have another potential 74 apartments unlocked and available to build after this lot.


I find it exciting and satisfying to do a site visit like that when you see how your money is being spent and to get an understanding of the massive planning and engineering involved. People who will only buy domestic rentals (and not shares)because they can “touch it” would improve their perception of share investing to see a site like this.


Thanks again for taking the time to post Cyclical, Ill bet you are a little tempted to run that “trade” now?

[Beagle]

Thanks Cyclical. I can't access the attachments either but your narrative gives a good insight into the unique attributes of this brownfield development.
In this red hot property market I really like how OCA are making maximum use of existing sites which will pay huge dividends down the track and its clear that some of the long established sites have unique attributes than a greenfield site wouldn't enjoy.

[peat]

I find it exciting and satisfying to do a site visit like that when you see how your money is being spent and to get an understanding of the massive planning and engineering involved. People who will only buy domestic rentals (and not shares)because they can “touch it” would improve their perception of share investing to see a site like this.

Hear hear! So true regarding NZ investing mentality

Shame about the pictures not showing Cyclical. Have another go when you've got more time eh?

[Beagle]

If anyone is in St Heliers have a look at the Waimarie site. You can't get on there with it all being fenced off and earthworks underway but just have a look at the view from the street. What a stunning location with breathtaking views ! Might wander over and have a look at the Sands at some stage soon.

Hey Mav, what are your thoughts on the Sands ?

[Maverick]

Hey Mav, what are your thoughts on the Sands ?

Not too sure what aspect you mean Beagle.

[Beagle]

Not too sure what aspect you mean Beagle.

From memory, you've done a site visit ? Any general thoughts on location, quality of construction, landscaping e.t.c., you'd care to share ? impressive ?

[Maverick]

From memory, you've done a site visit ? Any general thoughts on location, quality of construction, landscaping e.t.c., you'd care to share ? impressive ?

I don't think my opinion matters but the fact they only had 9 left for sale a few months ago tells the story well enough.....would I actually buy one my self....HELL YEAH. ( especially being 100mtrs from Deep Creek Brewery.)

[Beagle]

I don't think my opinion matters but the fact they only had 9 left for sale a few months ago tells the story well enough.....would I actually buy one my self....HELL YEAH. ( especially being 100mtrs from Mystery Creek Brewery.

DIC of a motorized scooter anyone

[dompf]

If anyone is in St Heliers have a look at the Waimarie site. You can't get on there with it all being fenced off and earthworks underway but just have a look at the view from the street. What a stunning location with breathtaking views ! Might wander over and have a look at the Sands at some stage soon.

Hey Mav, what are your thoughts on the Sands ?

Hey I live close to the Sands; I see it once every fortnight when I go to Browns Bay; it is a jewel of a location - close to all the eateries in flat Browns Bay; it looks extremely well maintained. It is a very impressive property right on the Beach. It made me invest in OCA 6ms ago when I drove past it.. I'll take a closer look next time in down there.

There's quite a bit of construction going on in Browns Bay with an apartment complex being built where the old supermarket once stood (be interesting to see what they are going for $). It is a very good spot in both NZ and the world to put your feet up.

[Posh]

The views are stunning! My Grandparents’ house was 28 Waimarie St (right at the front of the current site) and I can remember vividly watching fireworks from there as a young girl - felt like the view went on forever! And that was only a two storey house. Thought it was a good reason to reinvest in OCA