Highton aged care development to proceed after site sells for $3.6m

The $3.6 million sale of a high-profile Roslyn Rd site paves the way for new owners to push on with an approved 122-bed facility.

A Highton site with approved plans for a 122-bed aged care facility has been sold.

PLANS for a three-storey aged care development on a prominent Highton site look set to go ahead after it sold for $3.6 million.

Multicultural Aged Services Geelong Inc has purchased the large Roslyn Rd property that comes with an approved planning permit for a 122-bed facility.

Knight Frank, Melbourne handled the sale of 297-307 Roslyn Rd on behalf of publicly listed aged care provider Japara Healthcare.

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Director developer site sales Ed Wright said Japara sought expressions of interest from potential buyers as it no longer required the 8244sq m site.

“It was bought by MACS, Multicultural Aged Care Services in Geelong, they are going to utilise the plans and permits and build and aged care facility,” Mr Wright said.

He said the property attracted strong interest from both aged care providers and developers keen to unlock the potential of such a large land holding.

The 8244sq m site has an 82m frontage to Roslyn Rd.

“We received five offers at the end of the expressions of interest process,” Mr Wright said.

“The 30-day settlement in this market environment was very attractive.”

MACS, based in North Geelong, operates a range of in-home, palliative and residential aged care services with a focus on serving Geelong’s cultural diverse communities.

Its latest acquisition is in a high-profile location, 600m from the Highton shopping precinct, and has an 82m frontage on Roslyn Rd.

An aerial view of the site.

The approved development, designed by Crosier Scott Architects, provides nearly 8500sq m of floor space over three storeys, plus roof gardens, 122 bedrooms and parking for 41 vehicles and 25 bicycles.

The permit also stipulates the retention of a number of trees on the site.

The accommodation includes a mix of standard, deluxe and premium bedrooms.

A council planning panel rejected initial plans for a 136-bed development in August 2018, before the application was approved in February 2019.

The property last sold for $3.5 million in 2016, CoreLogic records show.

Originally published as Highton aged care development to proceed after site sells for $3.6m