The not-for-profit aged care operator Benetas has sold its potential aged care site to another aged care operator, pocketing $19 million against expectations of $11 million according to the press.

With a median house price of $1.6m in Brighton East, and over $2m in nearby Brighton, the vacant site covers approximately 5,751sqm. Benetas currently has 13 residential aged care homes and one retirement village across Victoria.

General Manager Strategy, Infrastructure and Housing Chris Karagiannis said “The sale of this holding will allow Benetas to expand its services into key target areas where need is highest, by reinvesting all funds back into improving services and support for our clients.”