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Sale of Great South Road property finalised

The successful sale of our Great South Road property will enable the Society to provide sustainable and enduring support to the disabled community for another 50 years and beyond.

The successful sale of our Great South Road property will enable the Society to provide sustainable and enduring support to the disabled community for another 50 years and beyond.

It is with great pleasure that we can now confirm that the sale of our property was completed on 1 December 2021, achieving a sale price of $49.5m. Our Board was very confident to accept this offer as it was very closely aligned with the valuation range provided by our independent expert valuer.

By commissioning an extremely detailed analysis of the property to determine exactly what would be approved for construction and working positively with the eventual purchaser, the Board was able to prove that the attributes of the site justified the agreed sale price. This positive outcome for both vendor and purchaser guarantee continuation of the Incorporated Society’s 50-year role in providing services to and supporting the disabled community.

We wish to recognise and thank the many dedicated professional advisors that have assisted the Board in achieving this outcome. We also wish to acknowledge that many of our members, staff, former clients and residents who received treatment at these Auckland facilities will be grieving the end of this era.

Over time we hope to show that this loss will ultimately enable great gains for the disabled community through the provision of meaningful home and community-based services.

The decision to transition services and sell were the most difficult any LFTI Board has had to make but we are confident it was in the best long-term interests of the Society and those we support. The

value LFTI obtained in the sale is significant and likely to establish LFTI as one of New Zealand’s most significant independent charitable purpose entities dedicated to disability support and services over the long term.

Ultimately the sale secures a sustainable future for LFTI that aligns with our Founders’ values while also enabling our work to best reflect health and disability sector reforms, changes to funding models and the evolving needs of the disabled community.

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