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Geelong residents are pushing the Council to fine the owners of the derelict buildings, which were to become part of the 136-unit Seachange Village, under a new Neighbourhood Amenity Local Law.
The Australian is reporting the aged care operator has been fielding offers from private equity firms that could result in the group being sold for up to $300M.
The newly revised Act will ensure residents who leave a village are paid out for their unit within 18 months, regardless of when it is relicensed.
The Federal Government says it won’t deregulate the number of residential aged care places until they can guarantee enough services for rural and regional areas.
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