Ryman Healthcare Limited Acquires Extensions to Two Existing Victorian Sites
October 27, 2021 at 09:51 am IST
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Ryman Healthcare has announced it has purchased additional land adjacent to two of its existing Victorian sites. The retirement living and aged care provider, which has five operational villages in the state and seven more in the pipeline, has purchased Essendon Terrace retirement apartments in Essendon. The complex, at 262-270 Pascoe Vale Rd, neighbours the 1.8 hectare site Ryman purchased in May, where it plans to build a new $165 million retirement village. Essendon Terrace, which is home to 22 existing residents, will become part of that bigger development, offering retirement living and aged care in one village community. As well as acquiring Essendon Terrace, Ryman also announced the purchase of the 2.35ha block of land next to its operational Deborah Cheetham Retirement Village in Ocean Grove, with plans to build a further 66 villas on the site. The planned expansion will see the completed village offering a total of 148 independent villas, as well as 53 assisted living suites and a 120-bed care centre.
Ryman Healthcare Limited is a vertically integrated retirement-living and aged-care developer, owner and operator. The Company develops, owns and operates integrated retirement villages, rest homes, and hospitals for the elderly within New Zealand and Australia. It provides a range of retirement-living options, including independent apartments and townhouses and assisted living in serviced apartments. Its aged-care offering includes rest homes, hospitals and dementia care. The Company's assisted living offers a range of services, including scheduled transport services and outings, village management and administration, maintaining and operating the community amenities, and gardening and ground maintenance and others. Its one, two and three-bedroom apartments and townhouses offer a neutral color palette. It also offers musical entertainment, fashion shows, arts and crafts, and regular outings. It owns and operates 38 villages across New Zealand and seven in Victoria, Australia.