Macedon Ranges aged care home trades to Maiestas Care
The Warrina Aged Care facility in New Gisborne, about 55 kilometres north west of Melbourne, has sold as a going concern to Maiestas Care.
On c7000 square metres at 176 Station Road, on the north east corner of tree-lined Saunders, the refurbished facility contains 79 beds, all in single rooms with ensuite.
It was initially developed as a Supported Residential Services (SRS) facility, in 2005, and with 46 suites, forming part of a boutique retirement village.
Following an extension three years ago adding 33 rooms, communal areas and a reception, it became a registered aged care home.
CBRE Healthcare and Social Infrastructure’s Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat brokered the deal for the South Australian operator following an off-market expressions of interest campaign.
“Despite…ongoing commentary surrounding the profitability of the industry as a whole, this deal has set a positive tone for transactional activity,” Mr Caspani-Muto said.
“Our team expect to see acquisition volumes over the course of the year surpass that of 2022,” he added.
“However, contrary to many beliefs, purchase activity will not be limited to large scale institutional and non-profit providers,” according to the executive.
“We are having constant discussions with new entrants and boutique providers who are committed to the sector and are wanting to focus on building scale into the future.
“Despite current headwinds in the industry, a number of existing and incoming operators are taking a long-term view with expectations of improved government funding as many see no alternative (story continues below).
Regional location, city convenience: agents
New Gisborne is 15km north west of Sunbury, a former satellite town, now a growth corridor considered an outskirt Melbourne suburb.
“The outcome achieved for the home is a strong one considering the commentary received by many during the campaign surrounding its “regional” location and the associated challenges with finding suitable staff in the area,” Mr Tat said.
“In reality, Warrina Aged Care is a high quality and modern aged care home that offers the best level of aged care and retirement living within the New Gisborne area and it’s surrounds by a substantial margin,” he added.
“The incoming operator…and its directors have a lengthy and successful track record and are committed to maintain or exceeding this level of care at the home,” according to the executive.
Elsewhere in the pocket, in neighbouring Gisborne, ID_Land two years ago outlaid $100m for a 266 hectare low density housing estate site while in 2019, ex-Carlton Football Club president Mark Lo Giudice sold the small Gisborne Square shopping centre to Illan Samuel’s Samuel Property.
In the wider Macedon Ranges municipality, meanwhile, a consortium led by celebrity gardener Jamie Durie in January paid prominent landscaper Paul Bangay c$11m for the 27.75 hectare Stonefields estate with a view to converting it to a hospitality venue, while in 2021, Lancemore acquired the Cleveland Winery, at Lancefield, 23km north of New Gisborne.
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