Japara Healthcare lists permit-ready Highton block

ASX listed Japara Healthcare has listed a Geelong development site after obtaining a controversial permit.

The aged care accommodation provider can expect more than $4.5 million for the 8244 square metre block at 297-307 Roslyn Road, Highton.

The land comes with permission to be replaced with a three level aged care complex containing 122 beds.

Any incoming owner could propose an alternative development scheme, likely townhouses, for the General Residential 1 zoned land.

Japara’s proposal proceeded despite community objection; this change.org petition was established when the project was anticipated to include 136 beds.

Highton is about five kilometres south west of Geelong; the Melbourne CBD is about 80 kilometres in the same direction.

Japara will tip sale proceeds from any Roslyn Road deal into its development pipeline of national projects.

Last July the group paid $10 million for two blocks of land abutting its Elanora Aged Care home, in Melbourne’s bayside Brighton.

Knight Frank’s Ed Wright, with Marshall White’s Andrew Campbell brokered that deal.

Mr Wright, with colleague Tom Ryan, is now marketing the Geelong holding for Japara.

Last May, aged care accommodation provider Mayflower Brighton paid $8.2 million for the former Calder Rise Primary School in Melbourne’s Keilor, on which it intends to build a facility.

Four bidders contested at that auction, following a campaign negotiated by Melbourne Acquisitions Dominic Gibson and James Latos.

The permit-ready site is about five kilometres south west of the Geelong CBD.

Share or Recommend article

Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco