Millie Phillip’s Milstern aged care and retirement village portfolio still progressing to sale

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Yesterday’s lengthy and colourful article in the Sydney Morning Herald by investigators journalist Kate McClymont suggested that 90-year-old Millie Phillip’s $110 million estate is tied up in a court battle with her children.

Shane Nicholson, National Director, Health, Aged Care & Retirement at Commercial Collective, tells us that he and George Koumoukelis (at Colliers) and joint representation to sell the seven retirement villages in the Golden lifestyle portfolio and two aged care facilities in the Milstern Health portfolio, with several in due diligence and The Ritz aged care home already exchanged.

The village portfolio covers 350 units in prime Sydney locations.

It is worth reading the Herald article. Millie’s self-made story is remarkable, including being Australia’s richest woman at one stage. While tough, is 15 years we always found her reasonable and pragmatic.


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