If a retirement village operator mentions there is lack of sites available to expand, just retort ‘look at Ryman Healthcare’ and its expansion in Melbourne, Victoria.
New Zealand’s largest retirement operator has announced plans for a new integrated retirement village on the site of the former Kealba Secondary College, 15km northwest of Melbourne’s CBD. It owns and operates seven villages in Victoria, with a total investment of more than $1 billion. Ryman has six more sites being developed. The business, founded in Christchurch, New Zealand, will become the biggest retirement operator in Victoria.
“Since opening our first village in Melbourne seven years ago we’ve seen a huge appetite for high quality retirement living communities that also offer aged care on site,” said Ryman Australia CEO Cameron Holland. “Older Australians want the peace of mind that comes with knowing that if their health needs change, they’ll be able to access world-class aged care right where they are.”
Ryman announced to the New Zealand Stock Exchange on Wednesday that it plans to build a $155 million village, featuring independent living villas and an aged care centre on the six-hectare vacant site. The village will also include a café, bar, gym, cinema, indoor pool, hair and beauty salons, and a bowling green.
“There is a particularly acute shortage of retirement living and aged care options in the Kealba area so we’re keen to help meet that pressing need in the community,” said Mr Holland.
“This village will give people who’ve lived in Kealba for decades that opportunity, and they deserve nothing less.”
Last month, Ryman announced the purchase of two new sites in Essendon, 8km northwest of Melbourne’s CBD.