Ryman Healthcare buys site in Melbourne’s north west

MEDIA RELEASE December 8, 2021 Ryman Healthcare buys retirement village site in Melbourne's north west New $155 million retirement village planned for Kealba Ryman Healthcare is planning to build a $155 million retirement village in the heart of Kealba in Melbourne's north west. Ryman plans to transform the six-hectare vacant site at 27 Driscolls Road in Kealba into an integrated retirement village. The village will combine beautiful independent living villas and a full aged care centre, including specialist dementia care, on a single site for the community. The village will also include a cafe, bar, gym, cinema, indoor pool, hair and beauty salons, and a bowling green. It will create more than 150 long-term jobs for the area as well as work for hundreds of tradies and contractors during its construction phase. The Kealba site borders the Bellara Crescent Reserve and has the Keilor Central shopping centre on its doorstep. It is a 15-minute drive to Melbourne Airport. Ryman Australia CEO Cameron Holland said the Kealba village would provide urgently needed retirement living options as well as care for retirees in the north west. "There is a particularly acute shortage of retirement living and aged care options in the Kealba area so we're keen to help meet that pressing need in the community. "We know that retirees looking to downsize don't want to go just anywhere. They want to be in a great location and remain connected to the family, friends and social networks in their local community. "This village will give people who've lived in Kealba for decades that opportunity, and they deserve nothing less." Ryman Healthcare is a fast-growing operator in the Victorian market, with five operational villages and another eight in its development plans. "Since opening our first village in Melbourne seven years ago we've seen a huge appetite for high quality retirement living communities that also offer aged care on site," Mr Holland said. "Older Australians want the peace of mind that comes with knowing that if their health needs change, they'll be able to access world-class aged care right where they are." Mr Holland said the purchase of the Kealba site was fuelled by strong demand for the model Ryman has brought to the Victorian market. Since opening its first Australian village in Melbourne in 2014, Ryman has invested more than $1 billion in Victoria. Its villages are home to more than 800 residents in Australia. About Ryman: Ryman Healthcare was founded in Christchurch, New Zealand in 1984 and owns and operates 43 retirement villages in New Zealand and Australia. Ryman villages are home to more than 12,800 residents, and the company employs over 6,400 staff. Ryman opened its first Australian village, Weary Dunlop, in Wheelers Hill in 2014. The company names all its villages after pioneering Australians and now has four more operational villages in Victoria: Nellie Melba in Brandon Park, John Flynn in Burwood East, Charles Brownlow in Geelong, and Deborah Cheetham in Ocean Grove. It has eight more sites at various stages of the planning, design and construction process in Aberfeldie, Essendon, Ringwood East, Mulgrave, Highett, Mt Martha, Mt Eliza, and Kealba. Contacts: For media information or images contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602), david.king@rymanhealthcare.com or Michael Cummings, Victorian Communications Manager, on 0452 381 781 (+61 452 381 781), michael.cummings@rymanhealthcare.com For investor relations information contact Michelle Perkins, Investor Relations Manager, on 027 222 9684 (+64 27 222 9684) or email michelle.perkins@rymanhealthcare.com End CA:00384342 For:RYM Type:GENERAL Time:2021-12-08 12:30:08