As we reported here in February, the listed aged care provider put the 8,244sq m site at 297-307 Roslyn Rd at Highton (pictured), 6km from the Geelong CBD with price expectations of between $4.3 million and $4.5 million – 12 months after the local Council approved plans for a three-storey, 122-bed aged care facility on the 8 site.

But the community-run Multicultural Aged Services Geelong Inc. has picked up the site for just $3.6 million with plans for the development to now go ahead at a date to be set.

The sale was handled by Knight Frank and attracted strong interest from both aged care providers and developers.

“We received five offers at the end of the expressions of interest process,” Knight Frank’s Director of Developer Site Sales, Ed Wright said.

“The 30-day settlement in this market environment was very attractive.”