LDK Seniors’ Living has announced Anglican Community Services trading as Anglicare Sydney has today acquired a 50% interest in LDK from Cromwell Property Group (Cromwell), creating opportunities for growth and expansion. The remaining 50% of LDK Healthcare remains with Aspire Group.
LDK CEO Byron Cannon said Anglicare’s investment would allow LDK to put into action its plans to significantly grow its seniors’ living communities in the coming years.
“Anglicare Australia’s investment in LDK is a very strong validation for our model and represents a transformational shift in the seniors living industry. It allows us to plan our villages in response to the sector demand, and cater to the discerning expectations of future residents,” he said.
“Anglicare Sydney’s brand values espouse integrity, compassion, and excellence to make ongoing and significant changes for individuals, families and communities. This approach is well aligned with LDK’s values of Love, Decency and Kindness in everything we do.”
“We pride ourselves on our dedication to each of our residents, ensuring they can maintain their independence and remain engaged and lead a purposeful life throughout all stages of ageing.
Anglicare Sydney’s CEO Mr Simon Miller sees the acquisition as a natural implementation of its present investment strategy. Mr Miller said, “Our investment in areas that we are aligned with strategically and have extensive experience in makes good sense. This opportunity to join in a partnership at LDK with Aspire is a good fit for Anglicare.”
“For more than 160 years, Anglicare has sought to provide excellence in aged care and retirement living, but also to serve those in need, render assistance to the vulnerable, to ensure that all are cared for with dignity and respect. Our values and Aspire’s values align, and we look forward to partnering with them to deliver exceptional service for LDK’s current and future residents.”
Cromwell’s Chief Investment Officer Rob Percy said: “We believe Anglicare will be committed to LDK continuing to provide the highest level of service and care to the residents of Greenway and The Landings and Anglicare’s interests align well with Aspire as a joint venture partner in this next stage of LDK’s growth.”
Also commenting on the sale, Aspire Managing Director and LDK Founder Paul Browne said: “We are proud of what we have accomplished with Cromwell over the past four years and look forward to continuing to deliver villages where our residents feel a true sense of belonging in this new chapter with Anglicare.”
Mr. Cannon said despite the impact of COVID on the industry, LDK has plans for a number of new seniors’ living villages. A second village in the ACT is to be announced soon.
“Since our inception, the wellbeing of our residents has been our foremost priority, and this commitment was especially paramount throughout the pandemic. We are very proud of the outcomes we have achieved, and the resounding positive feedback we consistently receive from residents, family and industry alike. We are very pleased to now be able to realise our growth plans to meet the increasing demand for our services,” Mr. Cannon said.
“We’ve been fortunate to have Cromwell partner with us over the past four years and thank them for their impact on our success to this point.
“With Anglicare’s investment in LDK, we are looking forward to being able to deliver more options for seniors to choose how they live their lives to the fullest, with the assurance and peace of mind that when needed, they will be cared for – for life.”
The management and operations of the LDK Healthcare portfolio remains unaffected by the acquisition. However, Anglicare’s Simon Miller recognises an opportunity for collaborative exchanges between LDK Healthcare and Anglicare governance and senior management.
“With this investment comes an opportunity to observe at close quarters the many attributes that LDK have to create their reputation in care management, in property and in sustainability,” Mr. Miller commented.