IPLiving, the retirement village platform backed by investment business Palisade Impact, has added its fourth village with the acquisition of Rosebud Village – a 105-unit community on Victoria’s Mornington Peninsula, 61km south of Melbourne's CBD.
“Rosebud Village fulfils an important need for quality affordable retirement living in the local area. Our focus is to protect the special qualities of retirement communities and in partnership with residents and staff at Rosebud, we’ll work to support and enhance resident wellbeing and the attractiveness and sustainability of the community,” said Mark Fay, CEO of IPLiving, who had told the LEADERS SUMMIT in March that he was in negotiations to buy another site.
The deal marks the continued expansion of IPLiving, which was created when Palisade Impact set up a $350 million retirement living platform in partnership with the family-owned Zig Inge Group. The late Zig Inge, credited as a pioneer of Australia’s retirement living sector since 1979, laid the foundations for the business. His son, Peter Inge OAM, now chairs IPLiving.
The group has steadily grown its footprint, repurchasing Prospect Hill Village in Camberwell, 10km east of Melbourne's CBD; Pinetree Donvale (the first village father Zig built in 1980), 20km east of Melbourne’s CBD, and Richfield Village in Aspendale Gardens, 27km southeast of the state capital.
Why invest $350 million in a retirement village operator - Wellbeing and social impact
Ian Sanders, Head of Transaction Services, Asia Pacific | Healthcare and Retirement Living at Colliers, announced that IPLiving had acquired Baptist Village Baxter's retirement village, set on a substantial 36,500sqm landholding and nearly fully occupied.
“We’re seeing unprecedented demand for healthcare, aged care, and retirement living opportunities — driven largely by shifting population demographics and the essential nature of these services,” he said.
Baptist Village Baxter CEO Kim Jackson said the sale would allow the organisation to reposition capital for the next phase of its Frankston South village redevelopment.
