A conversation with Angela Kneeshaw at BeGroup

In this conversation, Co-CEO Mark Hurley sits down with Angela Kneeshaw from BeGroup to discuss retirement villages as an asset class, revolutionising retirement living with a focus on community and care, and the future of ageing.

Angela, could you please share some insights into BeGroup’s journey and the key factors behind its success and resilience in the retirement village sector?

The success of BeGroup has been driven by a passion for delivering an exceptional experience for our residents. This passion is evident in the approach of our CEO, Guy Eady, who places the resident experience at the forefront of all that our team delivers. Each of our villages is operated by a team of exceptional staff. These teams and their ability to deliver the vision outlined by the leadership team are our biggest asset and a key success factor.

Each of our residents is unique and has different requirements and expectations of their village. Some of our residents enjoy the independence, privacy, and security offered by their unit. Others love the social nature of the village and can be found in the community area enjoying an activity or a glass of wine with friends. For our residents who require a higher level of care, our clinical team ensures that residents receive the best possible care in an enriching environment where they can continue to enjoy the personal feel of their village.

BeGroup is renowned for its innovative approach to retirement living. Can you share some insights into how BeGroup differentiates itself in the competitive retirement living sector?

Our commitment to great service and our ability to deliver a tailored experience to every one of our residents set us apart. The needs of our residents are met by our wonderful team of Village Managers and clinical staff who ensure that each resident has a positive experience that reflects their individuality.

It is fundamentally important to BeGroup that each resident feels that their village is their home. This can be as simple as helping a resident hang their artwork or selecting a dog-friendly unit so they can continue to live with their treasured companion. We welcome residents and their families into our villages; this is their new home and somewhere they want to share with those closest to them.

BeGroup places a strong emphasis on community and care. How are these values reflected in the design and management of your retirement villages?

Each of our villages is conveniently located within its local community, which means that residents can access local services. We also find that our residents form strong relationships and connections within the village. Some of these connections are facilitated by our Village Managers in terms of events and trips, but many of these interactions are initiated by the residents themselves. Some villages have shared transport options so residents can go to events together and share experiences as a group.

The design of our villages fosters these shared experiences. We have a wide and diverse range of common areas that are regularly used by residents. This can be as simple as a shared knitting or sports activity undertaken in the community centre or as complex as working on an engineering project in the ‘Tool Shed’. Some villages have pools, cinema rooms, gyms, vegetable gardens, art classes…the list goes on! At BeGroup villages, residents are encouraged to bring their passions into the village. More often than not, a new friend is waiting to share that same interest!

As the demographic shift towards an older population continues, what strategies is BeGroup implementing to meet the growing demand for retirement living options and to maximise investor returns?

BeGroup is constantly looking to evolve as an organisation to meet the changing needs of our residents.

We believe that by operating successful villages that are focused on residents, we will build a resilient business. If our residents are positive about their experience in their village, they will tell their friends and family. These recommendations have created waiting lists for us.

We ensure that we continue to invest in each of our villages. Regular maintenance is important to protect the value of our assets, ensuring that they can continue to be enjoyed far into the future. Some of our villages are unique in their design and layout. We are fortunate to offer a wide range of units for residents to select from. Some villages have stand-alone independent living units that allow residents to live in a spacious home. Other villages offer apartments that are smaller and highly secure. This array of retirement village and aged care options is wonderful for residents, as each resident is unique and each has different priorities when selecting their unit.

The diversity of our villages and the different kinds of units that they offer mean that we are well-placed to meet the needs of a wide and varied market. We have acquired mature sites with strong future cashflow forecasts. The Fund is yield-focused, and we have delivered strong returns to date. These factors provide our investors with ongoing confidence in our forecast financial returns.

For investors looking at BeGroup’s portfolio, what are the key factors you believe they should consider when assessing the potential of retirement village investments?

The nature of our sector and the relationship we have with our residents means that it is very important that investors have complete confidence in the integrity and skill of the Directors. The BeGroup Directors have been involved in the retirement village and aged care sector for decades. Our Directors understand their obligations and respect the position they hold. Our investors have been provided with information about our sites, and we pride ourselves on the high-quality sites in the portfolio. The experience of our residents living at the sites is a key factor in our ongoing success.

To date, our investors have been very pleased with the success of their investment, both from a cash flow and capital appreciation perspective. In addition, our Limited Partnership structure allows for tax-efficient returns to be achieved by our investors.

We have a diligent and highly skilled Finance team who ensure the accurate and timely delivery of all information. Our sector is well-regulated, and ensuring all compliance obligations are met is extremely important.

We are proud of our recent Caruso implementation, which provides a safe and secure repository for our investors of all the important information about their investments, which can be accessed directly by them at any time.

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To learn more about BeGroup, their villages and investment opportunities visit their website here.