Senior Australians considering a move into a Lendlease retirement village now have a
new level of choice to help them pay for their retirement.
Lendlease has introduced new ways retirees can pay for their retirement living to
enhance choice and flexibility and allow them to decide what is most suitable to their
The new options comprise a prepaid plan, a refundable contribution and, for villages
with serviced apartments, pay-as-you-go.
These new contract options complement the traditional model, known as a Deferred
Management Fee – also known as an exit fee – which remains the most common
contract choice in the industry.
Lendlease’s new retirement living contracts are designed to provide customers with a
variety of choice previously unavailable across most of the industry.
Existing and potential residents at various villages across Australia have helped design
the contracts to enhance choice and flexibility. In addition, the new deals can be
applied to both existing and new retirement village developments and will be on offer at
a majority of Lendlease villages by July.
The new contracts are also designed to broaden the appeal of living in a retirement
village to more people.
People can choose certainty with the refundable contribution, capital growth with the
prepaid plan, flexibility with the pay-as-you-go model for serviced apartments or simply
retain more capital upfront by choosing the traditional exit fee model.
Lendlease owns and operates 71 retirement villages and is one of Australia’s biggest
retirement village operators.