Frequently Asked Questions
- 1. What type of resident profile do you expect to have in your communities?
- 2. How will the healthcare services be delivered?
- 3. You have mentioned a number of different locations in different countries. Where do you expect to start?
The company is most advanced in its land search and (having carried out extensive market studies) in France and intends to start the programme with a key acquisition in that country. - 4. What is the main obstacle to achieving this development programme?
The main problem is securing sites with planning permission at the right prices. Throughout 2010 & 11 We have looked at a number of different sites, all of which were mired with planning or ownership problems. By ownership problems that was the company was indebted to financial institutions for far in excess of the true market value of the site therefore making any sensible negotiations impossible. - 5. How do you intend to finance the first and following developments?
The founder has funded the company to date and is currently raising fresh capital to carry out and execute the first acquisition in France. The company works with experienced investment bankers and funds that are attracted by the mixture of a sustainable development in the retirement sector. The company will raise at least €5million for the first acquisition and a further €10 million to fund that development. - 6. What bonding arrangements will be in place for each development? Under French law at least one-third of the properties in the development must be formally reserved before the developer can obtain a bond, roughly equivalent to the construction value. The company will ensure that it deals with reputable construction companies and in turn have the relevant insurance in place. It is anticipated that the company's banking provider of development finance will also offer mortgages on extremely favourable terms to potential purchasers.
- 7. How many of the services are obligatory in terms of payment? How many are ' la carte'?
The obligatory (basic) services relates to typical service charges provided in a community such as boundary security, refuse collection, general insurance, gardening, landscape maintenance and so on. The basic services also use of amenity buildings such as the club house and so on. A'la carte, or optional, services are, of course, choice based and range from meals purchased through to domiciliary care services. The objective is to keep each resident's monthly expenditure to a minimum but ensuring they receive the services they require. - 8. Will it be possible to chose and have input in the design of a property once reserved?
Yes, it will be possible to have significant input in the design and layout of a property within reason (including kitchen and bathroom fittings) and even the choice of sustainable energy supplies. For example a client may prefer to have solar power heating only and not to opt for a mix of ground and air source. - 9. Once the company is up and running and has more than one location would it be possible to switch?
Yes, part of the club membership will include a members' exchange programme for long or short periods or even permanent exchanges. - 10. What is the cost of club membership?
Any purchaser will automatically be a member of the club. Furthermore any person who is considering purchasing in our schemes can join the club for a very small fee which will offer a priority reservation in new projects or re-sales in existing projects. - 11. The website outlines SubAcute Care. How is this related to the overall Aurore project?
Aurore believes there is a future for SubActute care in most health systems and this is at the far end of the continuum care to Aurore's planned main-stream activity. It is, however, a related business in so far as potential discharged SubAcute care patients may wish to acquire properties with the benefit of domiciliary and ExtraCare services. It is a standalone business however that we wish to develope separately. - 12. Why is there an explanation of the Active Adult Retirement Community Concept?
This is really to give interested parties an idea how this sector has evolved in the United States and although Europe is a completely different market there are many similarities. - 13. How will you manage to keep the price of the properties below a level of around €300,000 and deliver expensive equipment for the sustainability factor?
Aurore will focus on acquiring sites in locations not normally considered prime. For example it would be nearly impossible to offer properties at this price on the Cote d'Azur, likewise certain parts of the Spanish coast, such as Sotogrande or Marbella, and Cascais in Portugal would almost certainly be ruled out. However the absolute priority is to make sure that any community is within 20 minutes of a large town capable of delivery all the services a resident would require and access to a significant road and transport network. - 14. In terms of location of the community, how far from a local village would you expect to be?
We would prefer to be part of a local village and perhaps assist in regenerating that community. For example, having the club house and brasserie located in the village if it is feasible and only maintaining essential facilities required for the day-to-day management of the properties on site. - 15. You mention affinity groups. What sorts of activities are planned?
These will involve golf as we are currently looking at project adjoining golf courses but will be as diverse as a gardening club and it is intended to have extremely well-equipped plots available for residents. There would be an emphasis on any suggested affinity groups such as fishing, classic car enthusiasts, bridge, cooking, reading, huntingetc. Basically any demand will be catered for by the activities director.
In addition to a car share scheme there will be scheduled day trips as required; these will normally be to the local large town or urban conurbation. - 16. Do you expect this to be a British only project?
Not at all. It is anticipated that around one-third of the potential residents will be British with a further third comprising the indigenous population and the remainder from northern Europe. It must be remembered that there are said to be 5,000 American residents in the Loire Valley for example.
Although this website, and especially the French part, extensively covers elderly care the whole concept is for accommodating an international mix of clients. The projects will not have a traditional nursing home but cater for residents who have home healthcare requirements.
From a domiciliary care agency either situated within the development or close by, possibly in a joint venture with an existing provider.
