The NZ listed operator plans to build the $100M village at Highton, 6km from the Geelong CBD. It will include independent living apartments and townhouses, assisted living apartments and an aged care centre.
The price paid for the 3.2ha site on South Valley Rd remains confidential, but Ryman’s Development Manager Andrew Mitchell said the city, VIC’s second biggest, has been on its radar for some time.
“It’s in a great area and is handy to Wandana Heights and is a short hop to Waurn Ponds Shopping Centre. Our research shows there is a shortage of retirement living options in the area,” he said.
The purchase adds to Ryman’s already busy development pipeline in Australia which includes villages at Brandon Park, Burwood East and Coburg in Melbourne and Mount Eliza on the Mornington Peninsula.
In the six months to 30 September 2016, the operator invested a massive $272M in new villages and redevelopments in Australia and NZ.
Credit: Committee for Geelong