Perth village operator Roger Kwok has acquired the 79 apartment Rylands of Kew and 84 apartment Rylands of Hawthorn from Stockland. Both are prestige vertical villages originally built by the Buxton family and sold to Stockland in 2008.
Kwok advises they will retain the Ryland brand rather than move to his 6 village Arcadia Communities brand in Perth. 10 months ago he also purchased the mixed gated community/golf estate called Hidden Valley 40 km outside of Melbourne into which he will also build a retirement village.
These recent acquisitions are part of a joint-venture he has with Malaysian funders and he reports he is looking at a further village acquisition over the next few months. Interestingly Roger is the first village operator to successfully attract true Asian finance to the retirement sector despite all the talk by others over the last five years.
