Ryman Healthcare has purchased a new site in Melbourne which it intends to
develop into a $200 million retirement village.
Ryman will be consulting with local residents before applying for consent to
build a village on the 1.2-hectare site in Coburg, about 10km from
Melbourne''s CBD.
Ryman Managing Director Simon Challies said the Coburg site was ideal for
retirement living.
The new village would include independent living and serviced apartments as
well as an aged care centre offering comprehensive care. Dementia care will
also be provided at the village.
"Coburg is an established suburb close to central Melbourne and our research
shows that retirement living options are limited in the area compared to the
size of the older population. We want to build a village with comprehensive
care so Coburg retirees can stay in the area they love without having to move
to get help. It will be the first village of its kind in the area which has a
significant older population.''''
The site is close to the heart of the Coburg''s vibrant shopping and
restaurant district. It borders the Coburg Lions AFL ground and a reserve.
The median house price in the area is A$813,000 compared to the Melbourne
median of A$725,000.
The site, which was formerly a school, had been previously approved for a
large residential development. The resort-style village will include an
indoor swimming pool, spa pool, library, hair and beauty salons, caf?, movie
theatre and a bowling green.
Ryman Healthcare has been in business for 32 years and is New Zealand''s
largest retirement village operator. Ryman opened its first village in
Melbourne in 2014 and Coburg is its fifth site in Victoria.
Mr Challies said the Coburg site was significant for Ryman.
"In May 2015 we set ourselves the target of having five villages open in
Melbourne by 2020. This means we are well on target to achieve that goal.''''
"We have a great team in Melbourne already which we will continue to expand
quickly to enable us to meet our ambitions.''''
Ryman Development Manager Andrew Mitchell said he would be consulting closely
with the community during the design process to ensure that the village met
local approval.
"We want to design a village that the community will welcome. It is a great
spot - not only because it overlooks the Coburg oval and a reserve but it
will also give residents views of Melbourne city.''''
Ryman Healthcare in Victoria:
Weary Dunlop Retirement Village: Opened 2014, the village on Jells Rd,
Wheelers Hill is home to 400 residents. The final stage was completed in
February 2016.
Brandon Park: Located on Brandon Park Drive, in East Melbourne, an
application to build a village on the 5.5-hectare site is currently being
considered by Monash City Council.
Burwood East: The 2.5-hectare site is part of a wider residential and retail
redevelopment by Frasers in the eastern suburbs. It is in the design phase.
Moondah Estate, Mt Eliza: Situated 55 km from the Melbourne CBD, Ryman
announced it had bought the 8.9-hectare waterfront site in September 2016.
Coburg: The 1.2-hectare site at 81A Bell Street is in an established part of
north Melbourne and is 10km from the CBD.
About Ryman Healthcare: Ryman was founded in 1984 and has become one of New
Zealand''s largest listed companies. The company owns 30 villages and serves
10,000 residents in New Zealand and Australia. Each village offers a
combination of retirement living and aged care.
Media advisory: For further information, photos, interviews or comment please
contact Ryman Healthcare Corporate Affairs Manager David King on 021 499 602
(+64 21 499 602)
End CA:00290789 For:RYM Type:ASSET Time:2016-10-13 14:14:42