Freedom says investors have right to sell

MORE REPORTS: Residents told to leave their home

FREEDOM Aged Care is assuring residents at Sunrise Supported Living they will not be kicked out with nowhere to go, but the “mum and dad investors” have a right to sell.

It was announced on Wednesday that Freedom would be taking over the operation rights of the retirement village in Kennington which has seen more than 60 investors losing out on rental income for the last few years.

The 35 residents renting units from private investors may have to leave within the next 12 months if those units are sold.

Freedom Aged Care owner Paul Brown, said it was difficult but the residents must understand the investors had a right to sell.

 “No one has to move out now and no one is going to be forced out if they can’t find appropriate accommodation,” he said.

“Freedom will pay relocation expenses and we will probably keep a few residents in the long-term.

 “But we need to concentrate on the owners of the units.

No one is going to be forced out. - Paul Brown

“They are mum and dad investors and most live in Bendigo. It is a ridiculous concept that someone hasn’t a right to sell because the person renting is elderly.”

Investor Terry Medcalf said something had to be done.

“The idea with Sunrise was the units would be refurbished and sold on. But only 20 out of 100 got sold. A lot are empty,” he said.

“I’m 60, and the other investors are people my age who were using it as an income to supplement their retirement.

“There are some investors here who have gone without rental income for two years.

“I am sitting on two units, what do I do?

"I can’t do anything with them. 

"This is the last chance.”

Smartphone
Tablet - Narrow
Tablet - Wide
Desktop