Pricing

  • TERRACE SUITES

    Refundable Accommodation Deposit* (RAD): $1.2million

    Daily Accommodation Payment (DAP): $189.70 per day

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $900,000 + 25% DAP of $47.42 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • SIGNATURE SUITES

    Refundable Accommodation Deposit* (RAD): $900,000

    Daily Accommodation Payment (DAP): $142.30 per day

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $675,000 + 25% DAP of $35.57 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • TERRACE ROOMS

    Refundable Accommodation Deposit* (RAD): $850,000

    Daily Accommodation Payment (DAP): $134.37 per day

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $637,500 + 25% DAP of $33.59 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • SIGNATURE ROOMS

    Refundable Accommodation Deposit* (RAD): $825,000

    Daily Accommodation Payment (DAP): $130.42 per day

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $618,750 + 25% DAP of $32.60 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • CLASSIC ROOMS

    Refundable Accommodation Deposit* (RAD): $800,000

    Daily Accommodation Payment (DAP): $126.47

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $600,000 + 25% DAP of $31.60 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • PENTHOUSES

    Refundable Accommodation Deposit* (RAD): $1million

    Daily Accommodation Payment (DAP): $158 per day

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $750,000 + 25% DAP of $39.52 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • PENTHOUSE SUITES

    Refundable Accommodation Deposit* (RAD): $1.6million

    Daily Accommodation Payment (DAP): $252.93

    Or a combined RAD and DAP payment structure – example below calculated based on 75% RAD payment and 25% DAP payment.

    75% RAD $1.2million + 25% DAP of $63.23 per day

    *The balance of a resident’s RAD is refunded in full when they leave The Richardson.

  • GLOSSARY

    Refundable Accommodation Deposit (RAD)
    A Refundable Accommodation Deposit (RAD) is a lump sum payment for accommodation at The Richardson: it is the price of a room or suite, which can be paid in full or in a combination of a percentage of the total RAD plus a Daily Accommodation Payment (DAP). The balance of a resident’s RAD is refunded in full when they leave The Richardson, unless any amounts have agreed to be deducted in writing in the resident’s accommodation agreement. This refund is financially guaranteed by the Federal Government.

    Daily Accommodation Payment (DAP)
    A Daily Accommodation Payment (DAP) is a daily cost for accommodation at The Richardson, charged monthly in advance when a resident has not paid their RAD in full. DAP and contribution payments, unless paid in advance, are not refundable when a resident leaves The Richardson.

    Maximum Permissible Interest Rate (MPIR)
    The Maximum Permissible Interest Rate (MPIR), set by the Federal Government, is used to work out the equivalence between a RAD and DAP amounts for residents who are not paying an RAD amount in full.

    The current MPIR is 5.77%

    Calculating DAP
    The formula used to calculate a resident’s DAP is:

    Refundable deposit (RAD) amount x interest rate (MPIR) / 365 = daily payment (DAP) amount