IMO the off loading of under performing centres is well under way. Expressions of interest on a portfolio of twelve centres, that IMO belong to G8 closed last week. The portfolio does not consist of one particular brand but a selection of centres from five brands.
Overseas buyers appear to only be interested in acquiring, larger high performing centres and are willing to pay above asking price to secure them. Are the corporates ready to pay those prices? The last notified purchase of centres from G8 was for thirteen centres in November last year. Settlement was supposed to be before the end of February, we assume, those acquisitions have been completed. The robust acquisition process seen in previous years has slowed, hopefully, this will allow them to concentrate on improving occupancy through quality delivery of care.
There are a few inclusions in The Family Package, should it ever get through, that are concerning for all child care operators. Every few weeks, there's a little ripple about families only being charged for actual hours used in care. Great for families, even better for the government, but disastrous for child care centre operators. The Activity Test fails families and their children's right to access quality early childhood education.
Finally, everyone has a right to post on this forum regardless of their opinion or position on G8 and no one should feel, that their posts, because, of comments from others, are inferior.
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