Speaker 1: You're listening to a shares these podcast We're all getting older,
Speaker 1: all of us apparently. Are we still on track? What
Speaker 1: to sort of hit? I think something like a million
Speaker 1: people over seventy five by when twenty thirty forty years.
Speaker 2: Yeah. Look, essentially by twenty forty the population goes from
Speaker 2: four hundred thousand Ye Zealanders over seventy five to eight
Speaker 2: hundred thousand YEW Zealanders over seventy five. It's a massive
Speaker 2: change in the demographic. And I think even by twenty
Speaker 2: thirty the number of eighty five year old goes up
Speaker 2: by one hundred and twenty five thousand, and so, like
Speaker 2: it's pretty quack like it's pretty close by now if
Speaker 2: you think in the next five years, one hundred and
Speaker 2: twenty five thousand extra people, you know, like we need
Speaker 2: something like thirteen thousand extra here beds in this country
Speaker 2: just to cope with that demand. In the next five years,
Speaker 2: I think you're going to find that this is not
Speaker 2: enough for timement village operators in New Zealand and five
Speaker 2: ten years time, wow, and certainly there's going to be
Speaker 2: not enough here beds in New Zealand, which is actually
Speaker 2: pretty sad and Kreb.
Speaker 1: It's offer a different level obviously, it's more like kind
Speaker 1: of more like being in hospital.
Speaker 2: Yeah, I mean, essentially, the way our villages work is
Speaker 2: you've got a retirement village. You live your life independently. Essentially,
Speaker 2: you have access to gym, swimming pool, spa, you know,
Speaker 2: everything you want to do, you live your life. But
Speaker 2: then if you know, if you'd need to help at
Speaker 2: a point in time in life, we've got a separate,
Speaker 2: sort of little medical hospital there. And as I said,
Speaker 2: they're quite homely and sort of small in the way
Speaker 2: that designs that they're quite private. But if you need
Speaker 2: resk home or hospital level support, you know, you can
Speaker 2: essentially be in that hospital environment, but still like maybe
Speaker 2: twenty minutes away from your house where your partner maybe
Speaker 2: still living and stuff, and that integration with your friends
Speaker 2: in the village that you've built up, you know, a
Speaker 2: friendship with over the last eight or ten years. You know,
Speaker 2: they still come across and see you can still go
Speaker 2: home for lunch at times, and so you know, we're
Speaker 2: trying to design facilities so that, you know, people can
Speaker 2: essentially live their life until they eventually pass away in
Speaker 2: our villages. And yeah, that's sort of how aged care
Speaker 2: is integrated with in retirement village living.
Speaker 1: So your second biggest home builder.
Speaker 2: Second largest home building in New Zealands.
Speaker 1: Yeah, that's that's that's it's quite a bold plane. You've
Speaker 1: never thought about how we could get into the wider
Speaker 1: market there.
Speaker 2: At times we have, like so we have actually done
Speaker 2: a few. At times, you buy land and maybe twelve hectares.
Speaker 2: Ideally you want about a hecta to build a broad
Speaker 2: out of site, so you sit there and go what
Speaker 2: do we do with the other four hectares? And so
Speaker 2: we bought a site in pepper Moa that had some
Speaker 2: spear lands, so we ended up doing a subdivision development
Speaker 2: there as well. And that has no no connection to
Speaker 2: Somerset per sale, like people wouldn't know it was us.
Speaker 2: Essentially we did all the master planning for the site,
Speaker 2: did all plots of land, did all the running infrastructure,
Speaker 2: all the sort of civil's works, and then essentially sold
Speaker 2: the home builders. But it is your right to say
Speaker 2: it's it's not that far away from being a natural
Speaker 2: extension for us. And to be honest, you know, like
Speaker 2: if you talk about that demographic stuff we're talking about
Speaker 2: before having you know, population doubling even just for that
Speaker 2: older part of New Zealand that's probably to be honest
Speaker 2: enough growth there for us, even just in that segment.
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