Ryman Healthcare has taken a reported $9.1 million for 9,065sqm adjacent to its Nellie Melba village, which is now one of Australia’s largest.
The disposal is in line with the NZ operator’s scaling back on expansion plans after it came undone in a $900 million New York debt facility, post the pandemic.
Realestatesource.com.au says Ryman sold the land through Cushman & Wakefield with approval for 43 apartments plus underground parking. The new buyer will build 37 townhouses on the site.
The report also states that Ryman sold a Coburg site for $21.8 million that had cost it $25.5 million. That buyer will also build townhouses.
Ryman sought to raise NZ$1 billion in new capital in February this year to reduce its debt.
