Australian Unity has teamed up with private wealth management group Ord Minnett as part of its Private Capital division to fund the development of a $125 million, 15-storey aged care home at its former head office opposite Albert Park Lake in Melbourne, Victoria.

Co-located with Australian Unity’s newest retirement village, The Grace, the mixed-use home will include 84 aged-care beds, 71 assisted living apartments and a wellness centre.

The community will be designed and operated under Australian Unity’s Better Together model, which includes higher staff-to-resident ratios, consistency of staff rostered to each apartment and meals prepared within the household.

Construction is expected to begin by late March and the development of the senior’s community is scheduled for completion in late 2022.

Australian Unity currently operate eight aged care homes across eastern Australia and a further 20 retirement villages.