The family-run Knowles Group, which owns Arcare Aged Care, has been revealed as the buyer of Not For Profit Mercy Health's former Maryville Hostel, which occupies a 1.04ha site in Boronia, 30km east of the Melbourne CBD.
The sale price is understood to be in the vicinity of the $8 million quoted by agents CBRE's Australian Healthcare & Social Infrastructure Division in the sales campaign.
Arcare Aged Care has 40 years' experience in the aged care sector. The operator recently opened the 106-bed Arcare Warners Bay, 15km from the Newcastle CBD and 150km north of Sydney, receiving "unprecedented interest" in the home. It is slated to open its Gisborne residential aged care facility in Victoria's Macedon Ranges, 54km northwest of Melbourne, at the end of 2024, bringing the provider's total number of homes to 53.
The operator plans to add an additional 1,530 beds to its offering over the next three years in Victoria, NSW and, for the first time, the ACT.
Arcare Aged Care was unable to provide further information about its plans for the site at this time.
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