NZX-listed New Zealand retirement village operator Ryman Healthcare plans to branch out of Melbourne, announcing a new $100 million project in Geelong.
Ryman is building four villages in Melbourne and one in Mount Eliza on the Mornington Peninsula, but now the Christchurch-headquartered business says it has been attracted to a new city for its sixth village in Victoria.
Andrew Mitchell, Ryman development manager, said the business had bought a 3.2ha site in Highton in Victoria's second biggest city.
"Geelong is a vibrant city with an ageing population and we think residents will like the concept of a resort-style village with a continuum of care," Mitchell said. "We know Geelong residents love the place and it will be great to be able to build them a retirement village so they can be cared for without having to move."
Ryman, headed by Simon Challies, would be consulting with residents in the area before submitting plans for the village.
