NEW Zealand retirement village operator Summerset has targeted Drysdale for its latest development project and snapped up a 10-hectare block.<\/p>\n
Summerset Group Holdings announced last week it had closed a deal for 9.96 hectares of land, which is just north of Drysdale Recreation Reserve at Wyndham Street and Marsh Court, and cost around $35 million.<\/p>\n
The investors have 33 retirement villages in New Zealand designed for over-70s and expects to deliver its first Australian facility in Melbourne by the end of next year.<\/p>\n
Summerset chief executive officer Scott Scoullar said the appeal of the site was due to its location in an established area serviced well by social, recreation and retail amenities.<\/p>\n
“Drysdale is a popular location on the Bellarine Peninsula adjoined with the suburbs of Clifton Springs and Curlewis.<\/p>\n
It provides excellent access to numerous amenities in the area including Clifton Springs Foreshore Reserve, Clifton Springs Golf Club and the Lake Lorne Recreation Reserve,” Mr Scoullar said.<\/p>\n
“The local area has recently benefited from significant investment in infrastructure including a $117 million bypass designed to improve access and reduce traffic congestion through the town centre.<\/p>\n
“We know that many people like to retire in their neighbourhood, so we look forward to giving local residents in the northern Bellarine Peninsula an opportunity to do just that.<\/p>\n
We imagine the proposed village will be very popular with Victorians from all over the state looking for the opportunity to live in a beautiful lifestyle location.<\/p>\n
“Our village will offer a full range of high-quality accommodation, including independent living serviced apartments and a residential aged care home.<\/p>\n
“We’re really pleased to have secured this land at Drysdale and the Australian team continue to make good progress on our development pipeline,” Mr Scoullar said.<\/p>\n
Mr Scoullar said the Drysdale site fit into the investment firm’s long-term strategy of increasing its spend in Australia, where he said the over-75 population is set to more than double to 4.1 million within 30 years.<\/p>\n
Summerset’s deal follows Stockland’s purchase of a 26-hectare block at Curlewis for a reported $60 million, which is expected to become a land-lease retirement community of up to 420 lots.<\/p>\n
The latest investment comes after string of projects from the New Zealand-based company, with projects underway in Melbourne’s outskirts including Yarra Valley, Chirnside Park and Cranbourne North.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW Zealand retirement village operator Summerset has targeted Drysdale for its latest development project and snapped up a 10-hectare block. Summerset Group Holdings announced last week it had closed a deal for 9.96 hectares of land, which is just north of Drysdale Recreation Reserve at Wyndham Street and Marsh Court, and cost around $35 million. […]<\/p>\n