Ryman Healthcare buys new Essendon site

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch 8140


MEDIA RELEASE May 21, 2021
Ryman Healthcare buys new Essendon site
New A$165 million retirement village planned in Melbourne


Ryman Healthcare’s rapid expansion across Victoria is continuing apace, with the company
announcing it has purchased another site in Melbourne, where it plans to build a new A$165
million retirement village.
Ryman, a New Zealand-based company, is now one of the fastest-growing operators in the
aged care and retirement living sector in Victoria, building villages that combine beautiful
apartments or villas with full-service care centres, including dementia care.
Since 2014 Ryman has opened five villages in the state and has plans for another six.
Ryman Healthcare Australia Chief Executive Cameron Holland said the 1.8-hectare property
on the corner of Moreland and Pascoe Vale roads in Essendon was the perfect site for an
integrated retirement village.
Lionsville is currently operating as retirement accommodation provided by the Lions Club of
Essendon, and the deal includes a large parcel of unoccupied land for development.
Mr Holland said the deal provided a great outcome for both parties.
“We’re always eager to work with government agencies or non-profits as we look for sites
to develop.
“There are a lot of charitable and religious organisations, sports clubs, and education and
health providers out there looking to offload some of their portfolio, and we have a strong
appetite to buy.”

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch 8140

Mr Holland said it was rare to find a large site in that area and the redevelopment will
transform the land into an integrated village with aged care on hand.
Lionsville Board Chairman Peter Gilbertson said the organisation’s vision was to create a
vibrant precinct for both residents and the broader community.
“With Ryman now committing to invest in the site, we are pleased that they will deliver a
mixed-use seniors’ living and wellbeing precinct in Essendon that aligns with Lions’ charitable
vision, values and objectives,” Mr Gilbertson said.
“The Lions Club of Essendon is excited about what this revitalisation project means, not
only for our residents but also for the broader seniors’ community.”
Ryman has also announced it has sold its Coburg development site after purchasing the
Essendon site. Ryman bought the old secondary school site on Bell Rd in 2016 but has
decided not to proceed with its development following changes in the market.
Ryman has been providing retirement living and care for 37 years and has been voted the
Most Trusted Brand in the aged care and retirement sector in New Zealand seven times.
Ryman opened its first village at Wheelers Hill in Melbourne in 2014 and now has more than
900 residents in Victoria.
Ryman Healthcare names its villages in honour of outstanding Australians.
Other Ryman villages in Victoria include Charles Brownlow in Highton, John Flynn at
Burwood East, Weary Dunlop at Wheelers Hill, Nellie Melba at Brandon Park and Ocean
Grove.
A new village is under construction at Aberfeldie, and the other development sites in its
landbank are at Ringwood East in Melbourne, and Mt Eliza and Mt Martha on the
Mornington Peninsula.
About Ryman: Ryman Healthcare was founded in Christchurch, New Zealand in 1984 and
owns and operates 41 retirement villages in New Zealand and Australia. Ryman villages are
home to more than 12,500 residents, and the company employs over 6,100 staff.
Contacts:
For investor relations information contact Michelle Perkins, Investor Relations Manager, on
027 222 9684 (+64 27 222 9684) or email michelle.perkins@rymanhealthcare.com

Ryman Healthcare Ltd, 92 Russley Rd, Avonhead, Christchurch 8140

For media information or images contact Michael Cummings, Victorian Communications
Manager, on 0452 381 781 michael.cummings@rymanhealthcare.com


Ryman’s new Essendon site (in orange)