The ASX-listed provider has sold its only retirement village and land in Nedlands, an affluent western suburb of Perth.
Regis Hollywood Village has 84 independent living units and vacant land with current development approvals on a 55,500m/sq site.
The $53 million price will be used by Regis Healthcare to pay down its debt, which has decreased since 31 December last year to $89.7 million as of 31 May. The sale is expected to be completed by 30 June.
“We will continue to operate the village for existing residents while we consult on and design a master-planned precinct for this substantial inner city land area adjacent to important medical facilities and surrounded by an established residential area,” Hesperia Director Rowan Clarke said.
Regis Healthcare also owns and operates seven retirement villages in Queensland and one in Tasmania and one in Victoria.
In February, the provider announced a net loss after tax of $25.9 million.