CEO Kevin McCoy is quietly committing the $2 billion that, in February 2024, he revealed had been allocated by the retirement village operator’s Swedish owner, EQT, for new developments and redevelopments over the next five to ten years.

The Weekly SOURCE can reveal the operator has bought four sites: one in Western Sydney; two more in Melbourne’s southeast; and one on the Bellarine Peninsula, near Geelong.

This is in addition to the two land purchases The SOURCE has already reported on: Bentleigh East, 15km southeast of Melbourne's CBD, and Highton, opposite the Waurn Ponds Shopping Centre in Geelong, Victoria.

Richard Crookes Constructions is building Levande’s 28-storey The Cambridge, the state’s tallest vertical retirement village with 158 independent living apartments (ILA), in Epping, 18km northwest of Sydney’s CBD, where a topping out ceremony was held earlier this month.

Six floors of The Cambridge have been set aside for a proposed residential aged care facility Epping Grand Care Community to be operated by Opal HealthCare. The first residents will move into The Cambridge later this year.

Levande is also progressing with plans to rebuild its Castle Ridge retirement village in Castle Hill, 34km northwest of Sydney’s CBD, and Oak Grange retirement village in Brighton East, 12km southeast of Melbourne’s CBD.

The SOURCE today can reveal its Bentleigh East infill acquisition will have 255 ILAs built over three stages: Stage 1 - 85 ILAs and Clubhouse, Stage 2 - 66 ILAs and Stage 3 - 104 ILAs with the cost of construction $270 million. Commencement of Stage 1 is expected in early 2026.

Levande’s greenfield project in Highton (pictured above) will have 125 ILAs delivered across three stages with a construction cost of $75 million. Browse Levande’s retirement villages on the #1 listings website villages.com.au.