Aged care provider Japara Healthcare expands Gold Coast footprint in $4.7 million deal

ASX-listed Japara Healthcare has acquired a Hope Island development site from Brisbane developer Keylin Group, which has consolidated its Gold Coast property portfolio to focus on two major developments.

Aged care provider Japara Healthcare has secured a development site (bottom left) at Hope island on the Gold Coast.

ONE of Australia’s largest aged-care providers is expanding its footprint on the Gold Coast after sealing a deal on a prime development site at Hope Island.

ASX-listed Japara Healthcare has acquired the 9212sq m parcel of land for $4.7 million from Brisbane-based developer Keylin Group.

The recently-settled transaction is part of a consolidation by Keylin of its Gold Coast property portfolio to focus on two major developments nearby.

In October, the group purchased the 65ha undeveloped balance of the waterfront Serenity Cove estate at Hope Island for $50 million from Malaysian multinationals Sime Darby and Brunsfield.

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The sale of the surplus development site on Santa Monica Boulevard to Japara follows Keylin’s launch of its $30 million Hope Island luxury villa project, Palladium, adjacent to Sanctuary Cove’s The Pines Golf Course.

“We’re pleased to have completed the sale to Japara at a time when we are extending our investment at Hope Island,” said Keylin Group director Louis Cheung.

“We have a highly active portfolio of projects across southeast Queensland, with Hope Island remaining a key focus for our group.

“The sale to Japara is an excellent outcome for the group and Hope Island generally as it will help provide more residential diversity amid the significant growth the area is experiencing.”

Japara Healthcare’s aged care development on Scottsdale Drive, Robina

Japara’s aged-care properties are home to more than 4000 residents in Queensland, New South Wales, Victoria, Tasmania and South Australia. The company has an existing Gold Coast facility at Robina.

The sale of the Hope Island site to Japara settled on December 9.

Keylin has a number of projects underway in Brisbane, Logan and Ipswich and has delivered almost $100 million in residential developments on Hope Island alone over the past three years.

It is due to take control of Serenity Cove in February as it nears completion of Park Cove Eastern Villas, a development comprising 36 villas in the Hope Island Canal precinct.