Ryman checks into Melbourne retirement village in $30m deal
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New Zealand-listed Ryman Healthcare is extending its portfolio of retirement villages in Victoria, with a $30 million deal to acquire a site in Melbourne’s south-east where it plans to build single-storey villas for the first time.
Ryman’s 12th land purchase in the state is a 4.6-hectare site on Jackson’s Road in Mulgrave. The New Zealand player opened its first facility at Wheelers Hill in Melbourne in 2014, the Weary Dunlop Retirement Village, and now has more than 900 residents in Victoria, with five villages up and running in the state and seven more under development.
The Essendon move represents better prospects for Ryman as it also divested a Coburg property nearby, the site of a former high school which it acquired five years ago.
Southbank hotel site back on the market
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Liquidators have called time on a Southbank development site that is back on the market for the third time in five years.
The project at 63-69 City Road, was to be the first Melbourne building for Jason Chong’s Malaysian-based Cornerstone Partners Group which had signed up UK hotel group Yotel.
63-69 City Road.
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Demolition had already started, with No.67 razed despite being listed as contributing to local heritage. No.63 still stands. The site covers 915 square metres.
Southbank hotel site back on the market theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.