Highton aged care site ready to roll after $3.6m sale

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.

Director of developer site sales Ed Wright says Japara sought expressions of interest from potential buyers as it no longer requires the 8244sqm 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,” Wright says.

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

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

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

“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 8500sqm 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.