Supported Affordable Accommodation Trust Pty Ltd (ABN 16 123 903 836) is trustee for Supported Affordable Accommodation Trust that will bring together investors, disability service providers, people with a disability and others who might require residential care and affordable accommodation. It will also involve other stakeholders such as Federal, State and Local governments, supporters and families of those requiring residential care. The model enables people with a disability (who have an NDIS funding support plan) access to quality support in a building that is purpose built, enables sufficient support and allows for low board and lodging costs.
Potential investors will be able to purchase units in a Property Unit Trust which will fund the buildings that will generate reasonable and consistent returns of around 3-4% on their investment over time.
The model allows the buildings to be leased to a disability service provider at a rate that enables the service provider to sub-lease it to residents at affordable rents as part of their board and lodging costs. Board and lodging costs are payable by the residents out of their income sources to the service provider. It is expected that the cost of full board and lodging will equate to 75% of the Adult Disability Pension plus the full rent assistance supplement.
The Federal Government has committed to providing a grant for $6M to the Trust to acquire land and build 9 sites (each with 3 x 2 bedroom units and a shared/support unit) in the greater Hobart region. Once finalised, this grant will also cover the cost of the first building that is now nearly completed. Further investors will be sought from institutional investors that are seeking a reasonable return for a community welfare service.