NZ operator spends $30m on Melbourne retirement village site
New Zealand listed Summerset Group has swooped on a Craigieburn block with plans for a 200-lot retirement village and serviced and dementia care apartments.
The 8.1 hectare parcel, 1480 Mickleham Road, at the south east corner of Craigieburn Rd, is costing a speculated $30 million.
The vendor, Peet Limited, controls the neighbouring Aston housing estate.
It was represented by Biggin & Scott Land’s Andrew Egan and Callum Williamson, who refused to comment about the result when contacted.
The deal comes two months since another NZ listed retirement village operator, Ryman Healthcare, outlaid $30.08m for a 4.7ha ex-seminary at Mulgrave, with plans for villa units, apartments and an aged care complex.
1480 Mickleham Road, Craigieburn
Elsewhere in Victoria, Summerset holds land earmarked for retirement villages at Chirnside Park, Cranbourne North and Torquay.
“Like New Zealand, Australia has a rapidly growing population aged 75-plus and in the Craigieburn area the number is expected to increase by nearly 90 per cent in the next 10 years,” Summerset chief executive officer, Scott Scoullar said (story continues below).
“Summerset prides itself on offering a continuum of care model whereby as a resident’s needs change, so can their living arrangements,” he added.
“We’re looking forward to bringing this model of care and high quality retirement living to Australians” according to the executive.
“The Craigieburn site..,is 32 kilometres from Melbourne’s CBD in an area similar to many of Summerset’s current New Zealand villages and its first Australian property purchase in Cranbourne North [in 2019]”.
Part of Summerset’s new parcel will front Gallantry Avenue, which is set to be extended west from Aston to Mickleham Rd.
Today we are also reporting Peet is paying Greencor a speculated $30m for a 25.25ha housing estate site at Wollert, about nine kilometres east of Craigieburn.
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