OCA - Oceania Group - retirement villages

[Beagle]

https://www.arvida.co.nz/Arvida-Villages/Aria-Bay
Look at the pathetic size of the swimming pool...not even big enough for a small dog to get some decent exercise...just as well the bowling club is handy so people can recover from claustrophobia at the pool lol

[Food4Thought]

https://www.arvida.co.nz/Arvida-Villages/Aria-Bay
Look at the pathetic size of the swimming pool...not even big enough for a small dog to get some decent exercise...just as well the bowling club is handy so people can recover from claustrophobia at the pool lol

... swimming pools are a expense many people get tired of. Average running cost of a home pool with electricity with a 1kW pump is around $800 a year... on 6-8hr run time. Given a few days they run 12hrs + for maintenance purposes. Plus chemicals... Plus maintenance... for a small pool it is much more affordable than a large one (say you had a pool built 20+years ago the build cost and operating cost has since at least doubled). It is manageable... and very nice.

Most older people would also want it heated to 28 degrees plus (31-36 if wanting to do some therapy). Add another approx... $1000 year for heat via gas or electricity... pool looks to be approx 25-35000l. Avg WxDxL... Plus build cost... then they are next to the beautiful ocean ...

Maybe some reasons for a small pool...

[trader_jackson]

... swimming pools are a expense many people get tired of. Average running cost of a home pool with electricity with a 1kW pump is around $800 a year... on 6-8hr run time. Given a few days they run 12hrs + for maintenance purposes. Plus chemicals... Plus maintenance... for a small pool it is much more affordable than a large one (say you had a pool built 20+years ago the build cost and operating cost has since at least doubled). It is manageable... and very nice.

Most older people would also want it heated to 28 degrees plus (31-36 if wanting to do some therapy). Add another approx... $1000 year for heat via gas or electricity... pool looks to be approx 25-35000l. Avg WxDxL... Plus build cost... then they are next to the beautiful ocean ...

Maybe some reasons for a small pool...

On the times I have visited, it seemed to be just the right size, and never seemed to be filled to capacity (one time had 1 person it it, the other nobody)... nice view actually of browns bay as well.
ARV is not about having the biggest pool, or the biggest villages, size is not everything after all... it is about having the right offering at the right size - which is often far from being the biggest... and in return, yes, ARV do charge for the niche-ness of it all.

[Beagle]

https://www.rymanhealthcare.co.nz/vi...edmund-hillary
I've seen the size of the pool at Edmund Hillary resort, (opps retirement village) and its very nice...one you'd actually want to use and can swing a cat and your neighbour's dog in too.
OCA Sands looks good to me and the size of their pool at the front door is the most impressive of all
There's waterfront and then there's second class, it really is that simple.

[Leftfield]

I am presently doing a Snoopy, (no apparent interest in this one from the other Beagle) so I have to dig around myself.... and endeavouring to obtain more background information on what is behind the ~ $7m increase in other expenses in the financial statements that is not explained with a note to the accounts. Are these one-off expenses or does this represent a fundamental ongoing shift in their cost structure ?
Important to note these are not wages cost increases which are disclosed elsewhere and explained.

I have emailed Earl as I feel an apparent ~ $14m per annum increase in undisclosed "other expenses", (I have to assume they are ongoing at this stage in the absence of a satisfactory other explanation) without any explanation in the accounts is both material and requires further explanation. I'll let you guys know what I find out, (if anything) in due course.

If anyone wants to opine on what might be behind this increase I am all ears.

Just to say I for one, appreciate your efforts and willingness to share the info'.

[Snow Leopard]

...If anyone wants to opine on what might be behind this increase I am all ears.

Beagle ears

[Beagle]

Beagle ears

LOL Cleaning a Bassets ears is even worse https://www.youtube.com/watch?v=QrQpT6rpvUM Takes floppy to a whole different level !

[warren]

[ ~ $7m increase in other expenses in the financial statements that is not explained with a note to the accounts. Are these one-off expenses or does this represent a fundamental ongoing shift in their cost structure ?
Important to note these are not wages cost increases which are disclosed elsewhere and explained.

I have emailed Earl as I feel an apparent ~ $14m per annum increase in undisclosed "other expenses", (I have to assume they are ongoing at this stage in the absence of a satisfactory other explanation) without any explanation in the accounts is both material and requires further explanation. I'll let you guys know what I find out, (if anything) in due course.

If anyone wants to opine on what might be behind this increase I am all ears.[/QUOTE]

Ummm this type of research and use of this forum is quite outstanding Mr Beagle. Geeeez 14 Million on Undisclosed ' Other Expenses". Why has no other shareholder spotted this large spend? Why hasn't there been a rush to explain? It was a total lack of intelligent questioning that let the Hanovers of this world lend 70 million etc etc to themselves. Mr Barracuta whats your take on these Other Expenses?
I'm very surprised indeed at our Liz allowing what appears as a real lack of explanation on her watch.

[Beagle]

The phone has been silent and inbox remains empty in terms of any response thus far. Winner just PM'd me and thinks it could be to do with the lease on some property, probably Everil Orr, $4.8m that I note is subject to some contrary credit of $4.5m, treated differently in the accounts but its fair to say it would be good to hear from the horses mouth as these accounts are not an easy read by ANY stretch of the imagination. Page 46 of the 2018 accounts gives some further details of the treatment of income and lease expense pertaining to Everil Orr.

I suspect the accounting treatment of this may be the bulk of the ~ $7m difference in other expenses as lease payments are lumpy and contingent upon ORA sales being achieved at that facility.

[trader_jackson]

https://www.rymanhealthcare.co.nz/vi...edmund-hillary
I've seen the size of the pool at Edmund Hillary resort, (opps retirement village) and its very nice...one you'd actually want to use and can swing a cat and your neighbour's dog in too.
OCA Sands looks good to me and the size of their pool at the front door is the most impressive of all
There's waterfront and then there's second class, it really is that simple.

Do you think old folk would venture across a busy road to get to a busy beach vs having a nice small well heated pool just metres away with views of the ocean and wider browns bay, a sauna and a near by fire to warm up next to after having a dip? I know which one I'd rather choose! It is no wonder Aria bay had an average purchase price of $1m despite not being anywhere near as close to the beach as The Sands... I do look forward to hearing about the missing cashie!