Opal HealthCare acquires ‘Australia’s most expensive five-star aged care home’
Greenwich Place, a luxury aged care home 7km north of Sydney on the Lower North Shore, has been sold by owner Jonathan Shteinman.
The aged care home was billed as Australia’s most expensive aged care home when it opened in February 2024, with Refundable Accommodation Deposits (RADs) ranging from $950,000 for its Classic suite up to $2.5 million for its Superior suite with views of the Sydney Harbour and CBD.
Today, those RADs range from just over $1 million to $2.6 million, with its single Platinum apartment priced at just over $3 million.
The development was also named the Best Aged Care Facility 2024 by the Master Builders National Excellence in Building and Construction Awards.
Jonathan told residents, relatives and representatives at the home on Tuesday (3 March) that Opal HealthCare would be the new owner of the 90-suite facility as he and his family were permanently relocating overseas.
“This fact, combined with significant changes underway in the aged care sector, means Greenwich Place would be best served by new leadership that has the scale and capacity to embrace the many new opportunities that are becoming available,” he said.
An agreement has been reached to transfer ownership of the facility to Opal in early May 2026, subject to the necessary regulatory approvals.
“The change in ownership ensures that the high standard of care and support you know and expect at Greenwich Place will continue long into the future under its stewardship,” he said.
Opal HealthCare’s growth continues
An Opal HealthCare spokesperson said the majority of the care team working at Greenwich Place will transfer to Opal HealthCare with the ownership change occurs.
“Australia’s aged care sector is undergoing rapid change as smaller operators struggle to meet rising consumer expectations, more demanding regulatory compliance, training and attraction of skilled team[s], and the need to build new communities for the next generation of older Australians who need care. Many of these smaller operators are leaving the sector,” the spokesperson told The Weekly SOURCE.
“As a consequence, larger operators with the scale, expertise and specialist knowledge are being called on to make a greater contribution. Opal HealthCare will continue to look for further opportunities in 2026 to serve the Australian community.”
Australia's largest private residential aged care provider, Opal HealthCare now has 54 care communities in New South Wales and 145 in total across NSW, Victoria, Queensland, South Australia and Western Australia.
The provider has expanded rapidly, growing from 101 communities in the past two years and adding home care to its portfolio through the purchase of 31 BlueCross aged care services in March 2024, followed by the acquisition of five homes from Cranbrook Care in May 2025.
