Medi-Aid Centre Foundation is registered with the Australian Charities and Not-for-profits Commission (ACNC).
Welcome members. This is a relatively brief report of the activities of Medi-Aid Centre Foundation for 2019. We wish to keep the Committee and Members conversant with our current activities. Overview – Medi-Aid Centre Foundation continues to make excellent progress.
During the year we have purchased a further 9 units on the Gold Coast. David has been visiting regularly to inspect our current units and liaise with Ocean Blue Real Estate.
We now have 230 units on the Gold Coast for Assisted Housing.
Medi Aid is in a very sound financial position. It has large reserves on TDs with the NAB.
These reserves are allocated to
• Cover any unexpected refunds to residents
• Eventually build approximately 33 units in Chatswood for assisted housing
• Further purchases on the Gold Coast
Robyn keeps all Medi-Aid financials in excellent order. Available for inspection at the office at any time by Committee Members.
David and Robyn, the Joint CEOs operate the village, plus all our satellite residential units strictly and satisfactorily. Sandy (Ackland) is the Medi-Aid Activities Co-ordinator and provides special events weekly for residents.
Village Managers Steve and Liz and John and Lauren operate Vimiera and Kooloora Villages efficiently and cheerfully. I thank all Medi-Aid staff for their dedication and loyalty to the residents in particular. Vimiera Village operates with clockwork precision.
As I have now moved into an assisted Living unit, I can now realise how wonderful the attention and service is. I simply cannot believe the high level of care, and love and attention residents receive from the dedicated staff. It is far above any expectations I had and I thank them from the bottom of my heart.
K G Hurst Real Estate, Ocean Blue Realty and Blakelys Real Estate operate all the rental accommodation and rental properties. Special thanks to Ocean Blue in Queensland for their help in screening and accommodating our elderly financially disadvantaged residents. David has also been liaising with Lyn at K G Hurst to inspect all of Medi-Aid’s properties in Sydney.
Medi-Aid still provides IOLs (for severe cataract). To date, since commencing the project in 2012, Medi Aid has completed 626 eyeballs. It has also paid out over $1.5 million for the services. Dr Geoffrey Painter at Gordon Eye Surgery and Dr Gagan Khannah of Eastwood Eye Clinic carry out a regular list.
The patients are all elderly persons with severe cataracts and no money. Instead of facing a 2-3 year wait in the public hospital system, Medi-Aid can have them carried out within two weeks at no cost to them.
Recently I went to Gordon Eye Surgery to undergo treatment for Macular Degeneration and Dr Geoffrey introduced the current Registrar and they thanked us profusely for the generous contribution by Medi-Aid to their program. Currently we are providing $200,000.00 pa.
Thank you to the Medical Committee for visiting our eldest residents and reporting on their condition. Dr Carolyn visited seven residents in Panorama Towers and one in Equinox. Tom Aldous, the eldest is 95 years old and is coping well.
Dr Geoff visited one resident in Surfers International and one in Surfers Chateau, 85 and 86 years old respectively.
The two CEOs and Chairman have been investigating the possibility of expanding our Sydney platform. Medi Aid owns considerable land at Chatswood, adjacent to blocks of flats it owns. Discussion with Willoughby Council indicates the possibility of lodging a DA for permission to erect further units on this site. This is ongoing.
Since our last meeting, Medi-Aid has purchased 574 Pacific Highway Chatswood for approx. $5.6 million. This is next door to a block already owned by Medi-Aid. Discussions with Council are proceeding.
Also, Medi Aid owns land at Parramatta. There is the possibility of further development here also. It is being investigated in conjunction with “Augusta”, who assists in developmental ideas. (They brokered the sale of our Melaleuca Sale). It is being pursued gently, as Parramatta City Council has grandiose ideas for the city, and we wish to capitalise on their ideas.
Dr John F Knight AM
NSW Senior Australian of the Year 2017
Chairman and Founder
Main Activities –
Our IOL project is still operating well. Last financial year 128 IOLs were performed at a cost of $295,020.00. Since this program began we have spent over $1.5 Million enabling 677 IOLs to be performed.
Regular Management meetings were held with the Chairman. Meetings with the Village Managers occurred every Thursday morning. Reports are tabled.
Nil meetings. The Joint CEO’s are monitoring the bank accounts and following the budget as prepared for this financial year.
Monthly reports are prepared for all rental properties and the Villages showing rent collected and all expenses relating to the individual properties. All expenditure on properties is apportioned according to the budget and special requirements that may arise.
Number of employees – 9 full time and 20 casual
All superannuation paid to November 2019
All leave journals updated to the end of November 2019.
All outgoing payments to Residents have been paid in full and on time.
The 2018 Financial Report has been lodged with our governing body, the Australian Charities and Not-for-profits Commission (ACNC).
The monthly BAS’ have been prepared and lodged with the Tax Office.
The quarterly accounts to 30 September 2019 were prepared and presented to each Village Chairperson within the specified time.
The Proposed Annual Budgets for 2020 were prepared for the Retirement Villages and a copy has been given to every resident. We recommended an increase in levies of 3% for all non CPI contracts.
The Annual Management meetings with all village residents were held on 18th October 2019. Both Kooloora Village and Vimiera Village were well represented and very cordial relations are maintained.
Retirement Village legislation requires us to have a Strategy in place for dealing with and reporting Elder Abuse. A Draft Policy is enclosed for the Board’s approval.
I confirm we have 8 members with 3 members of the Knight family on the Board (Committee). A percentage of 37.5%. This complies with our Constitution which allows the members of the Knight family to reach 49%.
There have been no issues to arise in this period that may place Medi-Aid at risk. There have been no changes in operations or issues that may affect the future operations of Medi-Aid.
This year we continue to work with KG Hurst and Ocean Blue to physically inspect the Medi-Aid properties. In addition, repairs, maintenance and refurbishment programs continue to be monitored for the portfolio.
To our surprise the neighbour approached us late in September, 2019, through Augusta Advisers, with an urgent proposition. They had come across a proposal that involved a mine in Queensland. The opportunity for them was too good to miss, and they needed to liquidate an asset. The negotiations were brief. They wanted $7.5m, we offered $4.95m, we agreed on $5.6m on the proviso of a 30-day settlement stipulated by them. We settled 24 Oct, 2019.
The plan now is to prepare a rezoning application for the combined properties, obtain a DA to develop as many units permissible, and construct and hold a new asset. The most likely timeline is to lodge the rezoning application by March 2020 with an anticipated approval by Sept 2021. The DA will take another 12 months, then construction most likely 18 months following that. Best guess currently is for completion towards the end of 2024.
Currently 3 matters exist with this property.
Recap: Termination of Lease to Joy’s Childcare.
Judgement was handed down 25 October, 2018, in our favour for possession.
We were back in court on 17 April, seeking an order for costs and judgement in our favour was handed down on 29 August, 2019, totalling $840,441.29. Finding Mr Shang to serve our letter of demand has proved elusive. We have ceased any further action.
Fire Order Update
Finally, most of the works have been completed and we have been handed a completed Annual Fire Safety Statement duly signed off by the fire contractors on 5 December, 2019. We can now lodge an application to have the fire order lifted.
The provisions of the “Gateway” guidelines, finally approved earlier in 2019, have become clearer during the course of the year. The Council has earmarked about 20 plus sites as ”significant sites” in the CBD area. During the year the Council has pruned the list to 7 sites, of which Campbell St is one. Discussions with Augusta have indicated possible interest from Chinese developers which will be explored further in the New Year.
In summary, since our last meeting, we have purchased no units.
New occupancy can be summarised as follows:
5 delegates have vacated for various reasons, mostly needing higher care, but some ‘just left’ and 6 have passed away. Some couples become a single person, and they notify us to down size to a one-bedroom unit, we have this happen 4 times. Of the units that we purchased earlier in the year, we had to wait for the existing leases to expire and those tenants vacate. Those 4 units now have our delegates in occupation.
Since out last meeting there are six ILU vacant.
The turnover can be summarised as follows;
4 have taken up occupancy (units 112, 134, 142 and 42) and 2 have been handed back (units 121 and 31).
A holding deposit has been taken for unit 121.
Since our last meeting there are 25 Assisted Living units vacant.
The turnover can be summarised as follows;
4 have taken up occupancy (units 79/80, 85 & 61) and 4 have been handed back (units 85, 31, 66 and 61).
Kooloora is fully occupied. We thought a resident was going to vacate about the time of our last report, however, she recovered sufficiently to be permitted to return to Independent Living.
43 Doomben Ave Eastwood (12 Units)
The refurbishment has been competed of a 2bedroom unit, but the stairs are causing all prospects to reject taking up our offer of accommodation.
56 Meadow Cres Meadowbank (24 Units)
Only one unit has been reoccupied since our last report (unit 2), with unit 13 just vacated in the last fortnight. This unit has been shown to a prospect and he is keen to proceed. We are waiting on receipt of his application.
19 Reserve St West Ryde (9 Units)
Our tenant in unit 2 transferred to Vimiera Assisted Living, as she was 90, and her family were concerned for her wellbeing. After some discussion she finally agreed to relocate. We received the surprising news that one of our couple became a single tenant a few weeks ago. The survivor may apply to relocate into a one-bedroom unit in the new year. The tenant in unit 3 has been in occupation for 14 years and has asked for works to be undertaken to the unit, which we are currently carrying out. Unit 7 on the top floor remains vacant due to the stair impediment.
16 Mons Ave West Ryde (6 Units)
Unit 6 remains vacant again due to the stairs and the resident in unit 3 has vacated in the last fortnight. One Resident in unit 5 is considering transferring to Assisted Living as he is now single and very lonely. We will follow this up in the New Year.
60 Campbell St Parramatta (14 Units)
The residential part of the building is fully occupied and it has a lift.
27-35 Doomben Ave Eastwood
This is a commercially let property of 48 units. We continue to replace kitchens and refurbish bathrooms as units turn over and become available. Currently no units are vacant for refurbishment. We still have 3 people who were formerly residing at Melaleuca in Chester St, who we have promised to move to Kooloora, North Epping, when units become available. This is an ongoing process.
36-44 Fontenoy Rd Macquarie Park
This is a commercially let property of 62 units. It naturally has a high turnover due to the nature of local IT consultancy work in the area - occupancy is good.
12-14 Harvard St Gladesville
This is a commercially let property of 15 units. It naturally has a low turnover as it’s well located. Currently it is fully occupied.
Woodvale Ave North Epping
This is special land subdivision project with the Knight family and Medi-Aid to subdivide 2 lots into 3, and potentially build 3 houses. We have the option to sell or hold depending on the market at the time. We have rented out the house to a needy couple, and the DA has recently been approved.
All other properties continue to tick along with a minimum of fuss.
We have arranged for 8 NDT Quarter page ads and 4 NDT half page ads to be run over the course of the year approximately 4 weeks apart.
We continue to have 4 TWT half page ads and they provided editorial copy to dedicate the page to Vimiera Village over the year.
David and Robyn attended the Not for Profit Governance Forum on 11 October, where the ACNC Commissioner, Gary Johns spoke on governance matters.
David accompanied Dr Heise to visit Mrs Obrien and Mr Javelin on 17 August in Surfers Paradise to interview them on their well-being.
217-223 Vimiera Road
Marsfield NSW 2122