Japara selling Victorian site approved for 122-bed aged care facility

Published on

The private aged care provider is offloading the site at 297-307 Roslyn Rd, Highton (pictured), 6km from the Geelong CBD with price expectations of between $4.3 million and $4.5 million – 12 months after the local Council approved plans for a three-storey aged care facility on the 8,244sq m site.

As we covered here, Ryman is building a $100 million competitive development with independent living apartments and townhouses, assisted living apartments and an aged care centre on 3.2ha at Highton, just 2.3km away.

Knight Frank is offering the site for sale – which is being pegged as an ideal future development for aged care or residential townhouses – via expressions of interest closing 19 March.

Knight Frank’s Melbourne director of developer site sales Ed Wright said Japara had opted to sell as they have a full development pipeline in Victoria and want to focus more of their capital on some of their interstate facilities.

“This was a good one to take to market given there’s a lot of interest in Geelong and Highton at the moment from Melbourne developers,” he told News.com.au.

Share.

About Author

The Weekly SOURCE is the leading media for retirement living and aged care businesses, delivering sector-specific news through four mastheads. Operating as part of The DCM Group, The Weekly SOURCE also provides a directory of proven sector specialists and an insights exchange.