1 00:00:01,000 --> 00:00:04,840 Speaker 1: You're listening to a shares these podcast We're all getting older, 2 00:00:04,880 --> 00:00:07,560 Speaker 1: all of us apparently. Are we still on track? What 3 00:00:07,640 --> 00:00:09,960 Speaker 1: to sort of hit? I think something like a million 4 00:00:10,119 --> 00:00:14,239 Speaker 1: people over seventy five by when twenty thirty forty years. 5 00:00:14,320 --> 00:00:18,800 Speaker 2: Yeah. Look, essentially by twenty forty the population goes from 6 00:00:18,840 --> 00:00:21,079 Speaker 2: four hundred thousand Ye Zealanders over seventy five to eight 7 00:00:21,160 --> 00:00:25,800 Speaker 2: hundred thousand YEW Zealanders over seventy five. It's a massive 8 00:00:25,920 --> 00:00:28,560 Speaker 2: change in the demographic. And I think even by twenty 9 00:00:28,640 --> 00:00:33,839 Speaker 2: thirty the number of eighty five year old goes up 10 00:00:33,840 --> 00:00:36,440 Speaker 2: by one hundred and twenty five thousand, and so, like 11 00:00:36,720 --> 00:00:39,360 Speaker 2: it's pretty quack like it's pretty close by now if 12 00:00:39,400 --> 00:00:41,640 Speaker 2: you think in the next five years, one hundred and 13 00:00:41,640 --> 00:00:44,560 Speaker 2: twenty five thousand extra people, you know, like we need 14 00:00:44,600 --> 00:00:48,559 Speaker 2: something like thirteen thousand extra here beds in this country 15 00:00:48,640 --> 00:00:50,920 Speaker 2: just to cope with that demand. In the next five years, 16 00:00:51,080 --> 00:00:52,400 Speaker 2: I think you're going to find that this is not 17 00:00:52,520 --> 00:00:54,880 Speaker 2: enough for timement village operators in New Zealand and five 18 00:00:54,920 --> 00:00:57,480 Speaker 2: ten years time, wow, and certainly there's going to be 19 00:00:57,480 --> 00:00:59,760 Speaker 2: not enough here beds in New Zealand, which is actually 20 00:00:59,760 --> 00:01:01,120 Speaker 2: pretty sad and Kreb. 21 00:01:01,200 --> 00:01:04,040 Speaker 1: It's offer a different level obviously, it's more like kind 22 00:01:04,040 --> 00:01:05,120 Speaker 1: of more like being in hospital. 23 00:01:05,400 --> 00:01:07,760 Speaker 2: Yeah, I mean, essentially, the way our villages work is 24 00:01:07,800 --> 00:01:10,880 Speaker 2: you've got a retirement village. You live your life independently. Essentially, 25 00:01:10,959 --> 00:01:14,480 Speaker 2: you have access to gym, swimming pool, spa, you know, 26 00:01:14,560 --> 00:01:17,000 Speaker 2: everything you want to do, you live your life. But 27 00:01:17,040 --> 00:01:18,600 Speaker 2: then if you know, if you'd need to help at 28 00:01:18,640 --> 00:01:20,680 Speaker 2: a point in time in life, we've got a separate, 29 00:01:20,720 --> 00:01:22,520 Speaker 2: sort of little medical hospital there. And as I said, 30 00:01:22,520 --> 00:01:24,920 Speaker 2: they're quite homely and sort of small in the way 31 00:01:24,920 --> 00:01:27,120 Speaker 2: that designs that they're quite private. But if you need 32 00:01:27,160 --> 00:01:29,880 Speaker 2: resk home or hospital level support, you know, you can 33 00:01:30,000 --> 00:01:33,119 Speaker 2: essentially be in that hospital environment, but still like maybe 34 00:01:33,120 --> 00:01:35,280 Speaker 2: twenty minutes away from your house where your partner maybe 35 00:01:35,280 --> 00:01:37,840 Speaker 2: still living and stuff, and that integration with your friends 36 00:01:38,400 --> 00:01:40,440 Speaker 2: in the village that you've built up, you know, a 37 00:01:40,480 --> 00:01:42,360 Speaker 2: friendship with over the last eight or ten years. You know, 38 00:01:42,360 --> 00:01:44,080 Speaker 2: they still come across and see you can still go 39 00:01:44,160 --> 00:01:46,679 Speaker 2: home for lunch at times, and so you know, we're 40 00:01:46,680 --> 00:01:49,320 Speaker 2: trying to design facilities so that, you know, people can 41 00:01:49,400 --> 00:01:53,560 Speaker 2: essentially live their life until they eventually pass away in 42 00:01:53,600 --> 00:01:57,560 Speaker 2: our villages. And yeah, that's sort of how aged care 43 00:01:57,640 --> 00:01:59,360 Speaker 2: is integrated with in retirement village living. 44 00:02:01,720 --> 00:02:03,800 Speaker 1: So your second biggest home builder. 45 00:02:04,080 --> 00:02:05,920 Speaker 2: Second largest home building in New Zealands. 46 00:02:06,840 --> 00:02:10,680 Speaker 1: Yeah, that's that's that's it's quite a bold plane. You've 47 00:02:10,720 --> 00:02:13,200 Speaker 1: never thought about how we could get into the wider 48 00:02:13,200 --> 00:02:13,920 Speaker 1: market there. 49 00:02:14,919 --> 00:02:17,520 Speaker 2: At times we have, like so we have actually done 50 00:02:17,560 --> 00:02:22,200 Speaker 2: a few. At times, you buy land and maybe twelve hectares. 51 00:02:22,280 --> 00:02:24,240 Speaker 2: Ideally you want about a hecta to build a broad 52 00:02:24,240 --> 00:02:26,560 Speaker 2: out of site, so you sit there and go what 53 00:02:26,560 --> 00:02:28,000 Speaker 2: do we do with the other four hectares? And so 54 00:02:28,040 --> 00:02:31,440 Speaker 2: we bought a site in pepper Moa that had some 55 00:02:31,520 --> 00:02:33,880 Speaker 2: spear lands, so we ended up doing a subdivision development 56 00:02:33,880 --> 00:02:37,640 Speaker 2: there as well. And that has no no connection to 57 00:02:37,680 --> 00:02:39,480 Speaker 2: Somerset per sale, like people wouldn't know it was us. 58 00:02:39,560 --> 00:02:41,600 Speaker 2: Essentially we did all the master planning for the site, 59 00:02:42,240 --> 00:02:45,560 Speaker 2: did all plots of land, did all the running infrastructure, 60 00:02:45,600 --> 00:02:48,400 Speaker 2: all the sort of civil's works, and then essentially sold 61 00:02:48,400 --> 00:02:51,480 Speaker 2: the home builders. But it is your right to say 62 00:02:51,520 --> 00:02:53,640 Speaker 2: it's it's not that far away from being a natural 63 00:02:53,680 --> 00:02:56,040 Speaker 2: extension for us. And to be honest, you know, like 64 00:02:56,040 --> 00:02:58,160 Speaker 2: if you talk about that demographic stuff we're talking about 65 00:02:58,160 --> 00:03:04,240 Speaker 2: before having you know, population doubling even just for that 66 00:03:04,520 --> 00:03:07,280 Speaker 2: older part of New Zealand that's probably to be honest 67 00:03:07,720 --> 00:03:09,880 Speaker 2: enough growth there for us, even just in that segment. 68 00:03:10,200 --> 00:03:12,800 Speaker 2: Investing involves for risk you might lose the money you 69 00:03:12,840 --> 00:03:16,120 Speaker 2: start with. We recommend talking to a licensed financial advisor. 70 00:03:16,840 --> 00:03:20,680 Speaker 1: We also recommend reading product disclosure documents before deciding to invest.