Adelaide Workmen's Homes
169 Fullarton Road, Dulwich SA 5065
PO Box 377, Kent Town, SA 5071
Telephone: (08) 8133 5097
Facsimile: (08) 8431 3502

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Adelaide Workmen’s Homes Incorporated

A P P R O P R I A T E  H O U S I N G
The variety and location of dwelling units owned by Adelaide Workmen’s Homes has responded to changing demographics and market requirements. The preponderance of near city homes equates not only to the requirements of the original Trust Deed, but also to the need for workers to be in ready proximity to employment.

D I F F E R E N T  S T Y L E S
Today, Adelaide Workmen’s Homes owns property and / or houses at Richmond, Mile End and Norwood. Stock includes:

One bedroom units for the aged 
Houses constructed during the 1930’s, 1940’s, 1950’s, 1960’s and 1980’s. 
A maintenance workshop 
Cluster Houses
New medium density two and three storey three bedroom homes

As the demographics of tenants have changed, so too has the stock diversity … from family homes to easy to manage retirement units.

A  C A R I N G  A T T I T U D E
The essence of Sir Thomas Elder’s generous bequest was a caring attitude. The Trust Deed in part ensured that this would endure, but it has been the sensitive interpretation by Trustees over almost a hundred years that has dictated the culture of Adelaide Workmen’s Homes.

Adelaide Workmen’s Homes can be a home for life or a stepping stone to home ownership. Rentals are set between market value and public housing to provide only a moderate return on investment.
Trustees have assumed the mantle of a caring landlord, and have endeavoured to provide appropriate housing for all ages and stages of life.

The executors of Sir Thomas Elder’s estate established an inaugural committee comprising six Trustees who drafted a deed of Trust, the basic terms of which provide the current operating parameters. A private act of Parliament in 1933 and again in 1966 ensured that the Trust Deed was appropriate to modern day development and business practices.

It is interesting to note that the original Trustees determined that "every Trustees shall reside in, near or conveniently accessible to Adelaide". Whether or not this was an attempt to ensure that the Board was able to maintain a watchful eye over its investments is uncertain. Of certainty, however, is that its Adelaide base has been maintained and that current direction is for Adelaide Workmen’s Homes expansion to be limited to the current confines of the Trust Deed.

The day-to-day management and administration of the Adelaide Workmen’s Home Inc, together with the book-keeping and accounting functions, are conducted by Mr Grant Stephens from MJS Management Services Pty Ltd.

Management functions include rental, maintenance and portfolio review.

I N V E S T M E N T  S T R A T E G Y

The 1898 Deed of Trust basically empowered Trustees with responsibility for the development of investment strategies. Implied, however, was that these strategies would be implemented with proper regard to the objectives of the Trust, and balanced by astute financial management. It was intended that investment decisions would increase the long term benefit of the initial bequest.

Today, the portfolio is valued at approximately $35 million. Capital reserves have been utilized to improve and extend the stock holding. Portfolio reviews are conducted on a regular basis to ensure best use of resources.

Adelaide Workmen’s Homes Incorporated operates as owner, investor, landlord and developer.

Adelaide Workmen’s Homes Incorporated
169 Fullarton Road, Dulwich SA 5065| PO Box 377, KentTown, SA 5071
Telephone: (08) 8133 5097| Facsimile: (08) 8431 3502


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