Ryman acquires extensions to two existing Victorian sites

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




October 27, 2021
Ryman acquires extensions to two existing Victorian sites


Ryman Healthcare has announced it has purchased additional land adjacent to two of its
existing Victorian sites.
The retirement living and aged care provider, which has five operational villages in the state
and seven more in the pipeline, has purchased Essendon Terrace retirement apartments in
Essendon.
The complex, at 262-270 Pascoe Vale Rd, neighbours the 1.8 hectare site Ryman purchased
in May, where it plans to build a new $165 million retirement village.
Essendon Terrace, which is home to 22 existing residents, will become part of that bigger
development, offering retirement living and aged care in one village community.
As well as acquiring Essendon Terrace, Ryman also announced the purchase of the 2.35ha
block of land next to its operational Deborah Cheetham Retirement Village in Ocean
Grove, with plans to build a further 66 villas on the site.
The planned expansion will see the completed village offering a total of 148 independent
villas, as well as 53 assisted living suites and a 120-bed care centre.
Ryman Healthcare Australia CEO Cameron Holland said the two purchases marked another
significant stride forward in the company’s growth plans.
Mr Holland said the planned expansion of the Deborah Cheetham Retirement Village in
Ocean Grove was evidence of the strong demand for Ryman’s full continuum of care
offering.
“All the available stages of retirement villas at Deborah Cheetham sold out faster than we
ever imagined they would, and we have a long waiting list of people wanting to get in.
“When the neighbouring property became available for sale, it presented an opportunity to
meet that extra demand.
“It’s just further confirmation for us that there’s an incredibly strong appetite in the
Victorian market for world class retirement living communities that also offer aged care on
site.”

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


Essendon Terrace, indicated in blue, neighbours the 1.8 ha site Ryman purchased in May 2021.

About Ryman: Ryman Healthcare was founded in Christchurch in 1984 and owns and
operates 43 retirement villages in New Zealand and Australia. Ryman villages are home to
12,750 residents, and the company employs 6,300 staff.
Contacts: For media information or images contact Michael Cummings, Communications
Manager Victoria, on +61 452 381 781 or email Michael.Cummings@rymanhealthcare.com