Ryman Healthcare’s devotion to Vitoria has no bounds with it now announcing its biggest project in Australia.
It has paid $48.2 million for a 2.56ha block, formerly the Federal Government’s Australian Defence Apparel site, an inner north Melbourne suburb, where it intends to build a $350 million integrated retirement village in Coburg North in Melbourne.
The village will combine independent living apartments and an aged care centre, including specialist dementia care, on a single site. It will also include a café, bar, gym, cinema, indoor pool, and hair and beauty salons.
Ryman Healthcare faces stiff competition as the area is a haven retirement living and aged care.
Its development will include the provision of new commercial space along Gaffney Street, adding the potential for retail, hospitality and health service operators within the retirement village precinct.
“Coburg North is an area that’s really taking off, with the recent arrival of marque developments like the Pentridge Shopping Centre adding to its appeal. We build village communities where people want live, and this is an area where people very much want to live,” Ryman Australia CEO Cameron Holland said.
“Since opening our first village in Melbourne in 2014 we’ve seen an extremely strong appetite for high quality retirement living communities that also offer aged care on site.”
Ryman Healthcare has seven operational villages and another seven in its development pipeline in Victoria.
Since opening its first Australian village in Melbourne, Ryman has invested more than $1.2 billion into Victoria. Its villages are home to 900 residents in Australia.
