Ryman Healthcare Investor News

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Ryman Healthcare buys Highett site

Written by David King
on November 21, 2019

MEDIA RELEASE

Eleventh Ryman village in Victoria planned for Bayside suburb

Ryman Healthcare is planning to build a new $180 million retirement village at Highett in Melbourne.

Ryman is a fast-growing new entrant into the aged care and retirement living sector in Victoria, building villages that combine beautiful apartments and full-service care centres, including dementia care.

The 1.2-hectare Graham Road site is a short distance from the Highett train station and Southland Shopping Centre, and there is a high demand for independent living and care in the immediate area.

The village will be 15km southeast of Melbourne’s CBD and is in a popular Bayside location.

Ryman Acting Chief Development Officer Jeremy Moore said it was rare to find a large site in the area and the Highett village will make a great place for retirees to live.

“We’re delighted to secure a site in Highett. We know Baysiders love the area and we can’t wait to get started on building a community where they can enjoy their surroundings with the comfort of knowing there is a care centre on site."

The Highett village will include a care centre with residential aged care, as well as specialist dementia care. It will include serviced and independent apartments, an indoor swimming pool, movie theatre, café, and hair and beauty salons.

“The village will provide a significant number of construction jobs during the building phase and more than 120 permanent jobs once it is operating."

Ryman has been providing retirement living and care for 35 years and has been voted the Most Trusted Brand in the aged care and retirement sector in New Zealand five times.

Ryman opened its first village at Wheelers Hill in Melbourne in 2014 and now has more than 650 residents in Victoria.

Ryman Healthcare names its villages in honour of respected local people.

Other Ryman villages in Victoria include Weary Dunlop at Wheelers Hill and Nellie Melba at Brandon Park.

Ryman Chief Sales and Marketing Officer Debbie McClure said naming suggestions were welcome.

“There’s nothing like a bit of local knowledge and we’ve found over the years that the best suggestions come from the people who know the place well. We’d love to hear any suggestions and to name it in honour of a Melbourne local."

Ryman Healthcare has sites for new villages at Burwood East, Aberfeldie, Ringwood East and Coburg in Melbourne. In addition, it has sites at Mt Eliza and Mt Martha on the Mornington Peninsula, and at Geelong and Ocean Grove on the Bellarine Peninsula.

About Ryman:

Ryman was founded in 1984 and has become one of New Zealand’s largest listed companies. The company owns and operates 45 retirement villages in New Zealand and Australia which are home to more than 13,200 residents and the company employs 6,700 team members.

For investor relations information and enquiries:

Contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602) or email david.king@rymanhealthcare.com.

Share registrar:

Our share register is managed by Link Market Services. Please send a change of personal details or any questions about dividends to enquiries@linkmarketservices.co.nz or phone +64 9 375 5998.

For media information or images:

Contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602) or email david.king@rymanhealthcare.com

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