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This is another construction company with an interest in retirement villages and the luxury market. It was acquired by Macquarie Bank.
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Retirement Services Australia
Formed in 1989 Retirement Services Australia was the retirement village vehicle for Melbourne property developer Clinton Casey. His forte was luxury resorts. His approach to retirement targeted the wealthy and the active with luxury in mind. In 2005 the Victorian company went through the process of planning a public listing with Macquarie bank as adviser. It planned an alliance with Macquarie with plans to grow nationally. Ten months later it was acquired by Macquarie bank.
EMBATTLED Richmond Tigers boss Clinton Casey is the face behind a $60 million redevelopment of a landmark Surf Coast caravan park.
Aug 2004 Breadth of operations
The caravan park is another asset in Mr Casey's property portfolio. He is chairman of the Links Group, which has developed the projects at Sanctuary Lakes resort at Point Cook and Sandhurst Club at Skye in Melbourne's southwest at $800 million each. Mr Casey is also chairman of retirement accommodation developer and management company Retirement Services Australia.
Tiger's park plan Herald-Sun August 14, 2004
NOT just a room with a view, but possibly the most exclusive retirement complex in Melbourne is being built in Toorak Village.
Sep 2004 Luxury retirement
Three-bedroom units in the over-55s only Toorak Place complex start at a cool $1.45 million, two-bedroom homes cost upwards of $740,000 and the single-bedrooms $460,000.
Those wanting a home at the elite address must also fork out about $400 a month in a weekly service fee to pay for the on-site manager, reception staff, security and other expenses.
And extra services, including meals, cleaning, laundry, handyman jobs and personal care will be on offer at a moment's notice -- but at a cost.
But the developers insist buyers will not regret the expense.
As well as 54 luxury apartments, the complex, managed by Retirement Services Australia, will have a health and fitness centre, 13 shops and 30 offices.
Many of Melbourne's former business and industry leaders who no longer wanted to worry about the upkeep of a sprawling property, were expected to snap up apartments.
Village for the elite Sunday Herald Sun September 26, 2004
Retirement Services Australia has a reputation for attracting well-heeled retirees, operating other luxury villages such as The Banool in Balwyn, The Concierge Bayside at Hampton, Rylands at Brighton, and The George in Sandringham.
Jan 2005 Luxury villages
Five-star aged care river site Moonee Valley Leader January 31, 2005
Richmond Football Club president Clinton Casey has moved a step closer to taking his retirement-village company Retirement Services Australia public, with Macquarie Bank appointed to advise on a listing.
Apr 2005 Plans to go public - Macquarie to advise
Other shareholders include JGL Investments, the vehicle of Melbourne's wealthy Liberman family.
Retirement Services Australia was formed in 1989 and runs 12 retirement villages and apartment complexes for independent retirees in the Melbourne suburbs of Hawthorn, Balwyn, Brighton, Sandringham, Box Hill, Northcote, Bentleigh, Templestowe, Hampton and Doncaster.
Mr Casey has said he wanted to take the Victorian brand national and expand next year, after listing.
Casey moves closer to RSA goal Australian Financial Review April 12, 2005
RICHMOND Football Club president Clinton Casey is to take his Retirement Services Australia group public, merge it with other operators and go on the aquisition trail.
Aug 2005 To consolidate
Tiger chief retiring kind The Age August 17, 2005
Macquarie may also ally itself with Retirement Services Australia, owned by Richmond Football Club president Clinton Casey. Mr Casey plans to use his $140 million group as a platform to build Australia's largest aged-care business after listing.
Aug 2005 Alliance with Macquarie
Caring Mac buys 12 homes The Age August 18, 2005
Rival Macquarie Bank last week bought Clinton Casey's Retirement Services Australia for $60 million.
Jun 2006 Bought by Macquarie
Babcock says ageing 'no cottage industry' Australian Financial Review June 23, 2006
Retirement Services Australia's web site is at <http://www.rsa.org.au/>
For Updates:- A good way to check for recent developments in aged care is to go to the aged care crisis group's search page and enter the name of the company, nursing home or key words relating to any other matter in the search box. Most significant press reports are flagged there. The aged care crisis web site has recently been restructured and some of the older links used from this site may not work.
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This page created Sept 2006 by Michael Wynne