Ryman Healthcare Investor News

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Ryman plans new $155m retirement village in Kealba

Written by Ryman Healthcare
on December 08, 2021

Ryman Healthcare is planning to build a $155 million retirement village in the heart of Kealba in Melbourne’s north west.

Ryman plans to transform the six-hectare vacant site at 27 Driscolls Road in Kealba into an integrated retirement village. The village will combine beautiful independent living villas and a full aged care centre, including specialist dementia care, on a single site for the community.

The village will also include a café, bar, gym, cinema, indoor pool, hair and beauty salons, and a bowling green.

It will create more than 150 long-term jobs for the area as well as work for hundreds of tradies and contractors during its construction phase.

The Kealba site borders the Bellara Crescent Reserve and has the Keilor Central shopping centre on its doorstep. It is a 15-minute drive to Melbourne Airport.

Ryman Australia CEO Cameron Holland said the Kealba village would provide urgently needed retirement living options as well as care for retirees in the north west.

“There is a particularly acute shortage of retirement living and aged care options in the Kealba area so we’re keen to help meet that pressing need in the community.

“We know that retirees looking to downsize don’t want to go just anywhere. They want to be in a great location and remain connected to the family, friends and social networks in their local community.

“This village will give people who’ve lived in Kealba for decades that opportunity, and they deserve nothing less.”

Ryman Healthcare is a fast-growing operator in the Victorian market, with five operational villages and another eight in its development plans.

“Since opening our first village in Melbourne seven years ago we’ve seen a huge appetite for high quality retirement living communities that also offer aged care on site,” Mr Holland said.

“Older Australians want the peace of mind that comes with knowing that if their health needs change, they’ll be able to access world-class aged care right where they are.”

Mr Holland said the purchase of the Kealba site was fuelled by strong demand for the model Ryman has brought to the Victorian market.

Since opening its first Australian village in Melbourne in 2014, Ryman has invested more than $1 billion in Victoria. Its villages are home to more than 800 residents in Australia.

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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