Land for sale near Tea Tree Plaza snapped up for $5.3 million by aged care centre operators
A SPRAWLING retirement village is planned for a prime piece of land northeast of the city that’s just sold for $5.3 million — long used as a commuter carpark.
A MULTI-MILLION dollar retirement village has been earmarked for a prime piece of Modbury land.
Aged-care provider ECH plans to build a village at the 9800sq m site at 85 Smart Rd, which neighbours Tea Tree Plaza and Modbury Hospital.
The land, formerly a Wilson Parking car park, sold for $5.3 million and settled two weeks ago.
ECH chief executive David Panter said there was a high demand for retirement living in the district.
“It’s an ideal location given it’s next door to the new developments at the (Modbury) Hospital and across the road from the O-Bahn station and the shopping centre,” Dr Panter said.
“We already have a fairly large village just around the corner in Ramsay Ave called Rotary Village and that’s one of our most popular villages, we’ve got a waiting list of about 50-60 people.
“Within a week of settling the (Smart Rd) land, we’ve already had about a dozen people ringing up to put down expression of interest.”
The zoning of the land allows for buildings up to five storeys high.
There would be a mix of independent living units and serviced apartments under ECH’s plans, which have not been finalised.
A wellness centre at the site could include health services, physiotherapy, podiatry, yoga classes and massage therapy.
Mr Panter said services at the new centre would be open to people in the district as a way of breaking down social isolation.
He hoped to submit plans to Tea Tree Gully Council by the end of September and start works before Christmas.
Colliers International investment services manager Oliver Totani, who sold the land on behalf of the State Government, said the site was “highly sought after”.
“(This is) because of the flexibility in its use and the potential development outcomes,” Mr Totani said.
“Development forms included aged care, medium to high density residential, bulky goods, retail, commercial and medical.”
Mr Totani said there were “multiple” expressions of interest for the site, which closed in April, but would not detail how many.
It is the second announcement of a retirement village in the northeast, following on from the Leader Messenger’s report last week that Life Care is building a $60 million development in Golden Grove.