VIC: Former Commonwealth Games village becomes $23m seniors living

Oct 21 2010 Updated July 4, 2023

The Weekly Source

1 min read

The $23 million redevelopment of the former Commonwealth Games village has seen the Parkville site redeveloped as Mercy Place Apartments. The majority of the village has been built by Australand and comprises of 52 ILUs. A spokesperson for Mercy Place Apartments stated that a medical centre will open within months. Mercy Place Apartments is 80% sold.

Scape moving to acquire Aveo is good news – here is why

It was revealed in the Financial Review this week that Australian student accommodation giant Scape is now the exclusive bidder to buy Aveo, for an indicated $3.5B. They will bring fresh thinking to the retirement village sector. Take a step back...

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Chris Baynes

15 Apr 2025

Mergers & Acquisitions

Scape reportedly in exclusive talks to buy retirement village operator Aveo

The student accommodation provider, working with Macquarie Capital and Deutsche Bank on due diligence, is likely to call on the two banks and Scape’s capital partners to buy the $3 billion plus business owned by Brookfield. Brookfield put Aveo up...

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Ian Horswill

15 Apr 2025

Opinion

Damned if you do, damned if you don’t: aged care on a collision course with care minutes

With just 12 months until care minutes are linked with funding, residential aged care providers are facing a lose-lose scenario: lose funding if they understaff but fail to be compensated if they exceed targets, says Shalain Singh, Managing Director and CEO of Arrow Advisory Group.

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Lauren Broomham

17 Apr 2025

Mergers & Acquisitions

Exclusive: Levande buys four new sites for retirement villages

Levande adds four new sites to its $2B growth plan, including major developments in Sydney, Melbourne, and Geelong.

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Ian Horswill

22 Apr 2025

Aged care isn’t fixed – so why are we not talking about it?

If you tuned into yesterday’s National Press Club debate between Federal Minister for Health and Aged Care, Mark Butler, and Shadow Minister, Anne Ruston, hoping for a meaningful discussion on aged care – you would have been sorely disappointed.

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“Impossible targets and no roadmap”: Clarence Village CEO Duncan McKimm calls for aged care policy reset

The CEO of Clarence Village, a stand-alone Not For Profit aged care provider in regional New South Wales, says aged care is being held back by unrealistic staffing mandates, a lack of infrastructure finance, and the absence of a national plan – warning the current system risks leaving 130,000 older Australians without care by 2035.

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Lauren Broomham

24 Apr 2025

Government Policy

Last-minute demand for new CHSP service agreements make 1 July deadline “truly impossible”: Ageing Australia

The aged care peak body Ageing Australia has warned that more than 830,000 older Australians could be left without essential services due to a surprise new requirement under the upcoming Aged Care Act. Under the change, Commonwealth Home Support...

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“Legislated to make a loss”: Resthaven CEO Darren Birbeck calls for urgent action on aged care funding

The CEO of the South Australian Not For Profit has warned the Federal Government that aged care providers are being “legislated to make a loss” under current reforms, in his contribution to The Weekly SOURCE’s political wishlist series ahead of the 3 May Federal Election.

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Caroline Egan

23 Apr 2025