Opal HealthCare has acquired a 2.8 hectare site in Fullarton, in Adelaide's inner south, jointly with leading Adelaide retirement village operator Living Choice for $42 million.
The site, located at 103 Fisher Street, includes the vacant 11-storey Julia Farr Centre, which was built in the 1970s.
Opal HealthCare will redevelop the first five floors into a 143-bed care community, offering single rooms with ensuite.
The upper levels of the building will be redeveloped into retirement living by Living Choice. Living Choice will also build additional retirement living apartments elsewhere in the precinct.
“Opal HealthCare is delighted to partner with Living Choice to modernise the Highgate Park precinct in Adelaide and deliver a state-of-the-art thriving, connected intergenerational community with the right care and supports for people through all the stages of ageing," a spokesperson for Opal Healthcare told The SOURCE.
The private operator, which is Australia's largest residential aged care provider, says it will continue to pursue residential aged care projects co-located with retirement villages.
“Over many years Opal HealthCare has built a strong track record of acquiring and developing residential aged care communities co-located with retirement villages in NSW, Victoria, Queensland, WA and most recently in South Australia," the spokesperson said.
“It is vital for wellbeing that older people can keep living in their local community as they age, with access to high-quality and compassionate care, staying connected to the people they love and continuing to engage in things they enjoy doing.
“That is why we work in partnership with many retirement living providers to develop co-located Care Communities that cater to the changing needs and expectations of our ageing population, and to provide dedicated care that nurtures physical, social, mental and spiritual wellbeing.
”Opal HealthCare will continue to explore further opportunities to create high quality Care Communities across Australia.”
Opal HealthCare operates 100 care communities across five states, including five in Adelaide.
