MELBOURNE, August 5th – Ryman Healthcare has secured a rare, large-scale infill development site in Melbourne’s south-eastern corridor for more than $30million following a competitive sales campaign that attracted a wide range of buyers.
The large-scaled infill site offered significant potential as a future residential or retirement living site.
Located in a prime position opposite Mirvac’s Waverley Park development, the site was sold with an existing permit for a retirement village, residential aged care facility and medical centre.
“Offerings of this scale within the Melbourne metropolitan market are extremely scarce, and the competitive sale campaign resulted in 13 offers being submitted. While there was broad interest from key buyer categories including aged care, retirement living and residential developers, Ryman Healthcare, an NZX-listed retirement living provider, was the successful purchaser.” Mr Burgess said.
Situated in Melbourne’s eastern corridor, the site offers future residents an array of lifestyle benefits and the convenience of Waverley Gardens Shopping Centre nearby, along with stunning views of the Dandenong Ranges.
Colliers continues to see strong levels of activity in the premium development site market in 2021.
“Escalating prices and strong clearance rates in the established market are driving demand from townhouse developers, while the aged care and retirement living players continue to compete to secure a limited amount of infill sites that are suitable for their use,” Mr Burgess said.