The ASX-listed operator paid $9.6 million for the 4,084sqm site in Parkside, a suburb in inner Adelaide, with plans to build an aged care home of approximately 120 beds.
The acquisition was first revealed in a presentation given by Linda Mellors at the Macquarie Australia Conference in May. In the presentation, Mellors revealed plans for the construction of more than 1,000 new aged care beds and the ambition to complete two to three developments per year.
Construction at Parkside is estimated to begin in 2029.
The purchase follows Regis Aged Care's purchase last month of four Queensland aged care homes from Brisbane-based Rockpool for $135 million, net $204 million in RADs.
There were more than 75 enquiries for the Adelaide property during the marketing campaign and a dozen inspections, said Colliers agent Rhys Newman (pictured). By the end of the campaign, nine offers had been made, generating a "market leading price". Alistair Mackie and Jordan Schmidt of Colliers also worked on the sale.
Regis already owns and operates four aged care homes in Adelaide, at Davoren Park, Marleston, Linden Park and Kingswood.
Regis will have 72 homes in total when the Rockpool acquisition is complete. In February 2025, the operator also moved to diversify its services, acquiring home care provider BodeWell Community Care from the Knowles Group, doubling its home care footprint.
