The NZ operator is on track for its fifth village in Victoria after purchasing the 1.2 hectare site at Coburg, 10km north of the CBD, from a private vendor.

While the price remains confidential, Ryman recently spent over $30M to buy the prestigious Moondah Estate at Mt Eliza on the Mornington Peninsula. The average house price in Coburg is AU$813,000.

Previously the site of a school, the ‘resort-style’ village will include independent living and serviced apartments plus an aged care centre and dementia care.

NZ’s largest village operator opened their first Melbourne village in 2014 and have promised to have five villages up and running by 2020. They point out they have 30 villages in NZ with a population of 4.5 million while Melbourne alone has a population of 4 million.

Their DMF structure for independent living is 20% over five years and serviced apartments 20% over three years.

It would appear they agree with our research that demand for retirement villages far exceeds supply.