Victoria-based Not For Profit Royal Freemasons is selling off residential care and retirement living assets, with all its residential aged care homes but one on the market.
The 192-bed Coppin Centre in Melbourne (pictured) is, according to a Royal Freemasons spokesperson, the only RAC the provider is looking to retain, with all its other homes for sale; the provider is also not looking to exit home care.
In a statement, the Board of Royal Freemasons said a strategic review had identified that its current operations were “not of sufficient scale” to remain viable long-term.
“The Board is developing a new strategic direction, which will include renewing its commitment to the Victorian community and adapting the way it provides services.
“As a result of this strategic refocus, the Board is exploring options to transfer some of its assets to other quality providers.
“Any course of action the Board decides to take will be in the interests of securing the long-term sustainability of our community and aged care services. Any net capital realised in the process will be directed to continuing our vision to support the communities of Victoria,” the statement said.
Royal Freemasons earlier this year sold off a 1.05ha parcel of land at Armstrong Creek, near Geelong, to a Sydney developer.
