Mount Eliza VIC
Australian Aged Care Group
Opening Early 2024
Opening in early 2024, Mt Eliza Gardens will provide the local mornington peninsula community with a premium aged care home offering quality accommodation.
Aged care services at Mt Eliza Gardens includes both permanent aged care and residential respite care options, with nursing staff operating 24 x 7 and visits from specialists to support all residents aged care needs.
The owners/managers of Mt Eliza Gardens have been been caring for the Melbourne community for 60 years and they are a continuing source of healing, hope and nurturing to the residents that they serve. Mt Eliza Gardens provides care with dignity to improve the health and well-being of every resident.
Each room at Mt Eliza Gardens, along with a wide range of indoor and outdoor spaces, provides a place to live, with all the benefits of 24-hour care.
From landscaped gardens to well designed communal dining, lounges and library, this is an aged care home of comfort and convenience.
Mth Eliza Gardens is owned and managed by the Australian Aged Care Group (AACG) which is a boutique residential aged care provider with aged care homes in metro and regional Victoria. AACG is family-owned and operated by 2nd and 3rd generation family members who have been delivering aged care for more than 60 years.
235 Canadian Bay Road, Mount Eliza, Vic, 3930
Residents: 150 Rooms
Type: Commonwealth Regulated and Subsidised
Provider: Australian Aged Care Group (AACG)
The Maximum Permissible Interest Rate (MPIR) has increased to 8.38% pa from
For a Refundable Accommodation Deposit (RAD) of $550,000 the equivalent Daily Accommodation Payment (DAP) increases to $126.27 pd ($46,090 pa).
The Reserve Bank increased the cash rate again in November 2023, which has a flow-on impact to the MPIR. This is now the highest MPIR since January 2012 and more than double the MPIR that applied just a little over one year ago.
Also the refurbished Daily Accommodation Contribution (DAC) rate of $66.94 pd means an equivalent Refundable Accommodation Contribution (RAC) of $291,564. In June 2022 the RAC was $544,719, meaning that aged care homes that are “RAD-focused” are now less likely to look at fully supported residents if they have exceeded their 40% supported ratio, as the RAC has now dropped below $300,000.
The MPIR increase to 8.38% will have a major impact on residents as they enter an aged care home from