The Victorian Not For Profit finalised the acquisition of Point Cook Village in Melbourne’s western suburbs on Wednesday, 5 February.
Point Cook Village was owned by RCA Villages, which has now sold all of its nine retirement villages. Bolton Clarke acquired four RCA villages in September 2024 while Derek McMillan’s Centennial Living agreed to operate four villages in March 2024 which had been purchased by Prime Value Asset Management in November 2023 for $105.3 million.
RCA Villages' Managing Director Andrew Philip has been actively involved in the retirement village industry since 2004, including as Chief Operating Officer of Australian Retirement Communities (ARC) which was owned by the Knowles family, who now operate aged care provider Arcare and retirement living operator Sencia.
Following ARC's acquisition by Stockland in February 2007, Andrew became the Victorian Regional Manager of Stockland Retirement Living until December 2007 before founding RCA.
Point Cook Village, which spans 13ha, has 257 independent living units and 24 apartments and lies within Wyndham, Victoria’s fastest-growing Local Government Area.
The purchase brings VMCH’s total number of retirement living units to 868 across Victoria across 16 communities.
“VMCH already has a significant retirement presence in Melbourne’s inner eastern suburbs. This investment allows us to expand our reach into the west and offer residents other established local VMCH services including home care and residential aged care, should the need arise," VMCH CEO Sonya Smart said.
VMCH is a Catholic for-purpose organisation, providing support to over 10,000 people across Victoria and into southern NSW through retirement living, residential aged care, home care, affordable homes and disability services.
