Ryman Health Coburg North: CEO Cameron Holland announces Melbourne aged care facility

The second biggest land sale in Moreland’s history has been ticked off. Here’s what’s planned for the Coburg North site.

Ryman Healthcare have announced plans to build an enormous aged care centre on Gaffney St in Coburg North. Source: Ryman Health

An international aged care giant has announced plans to build a $350m mega complex in Melbourne’s inner-north.

New Zealand company Ryman Healthcare will turn a 2.5ha block on Gaffney St in Coburg North, into a retirement home for more than 500 people.

In a media release, Ryman chief executvie Cameron Holland said Coburg North was “taking off” as a suburb.

On Tuesday David King, a spokesperson for Ryman Healthcare, said there woud be more than 300 residents living independently at the facility, while an extra 128 rooms would comprise the care wing.

Mr King said the area would also have 80 high-care and dementia-focused rooms

“At this stage we’re planning up to four to six stories towards the centre of the site, subject to council approval,” he said.

“It will eventually be home to more than 500 residents.”

Mr King said more than 150 full-time local jobs would be created by the development.

“The village will have a big impact on the local housing market as people downsize their homes and move in with us, freeing up homes for new people to live in the area,” he said.

The sale price of the block was $48 million, which selling agent James Latos, of Melbourne Acquisitions, told Leader was the second biggest price in the history of the municipality.

The Coburg North announcement follows Ryman’s trend of significant investment in Melbourne.

A spokesperson for the company said eight projects were underway across the Melbourne, including in Essendon, Mulgrave and Ringwood East.