Noticeboard: Latest expansions, openings
In this wrap: Estia acquires four facilities; Ingenia acquires $16 million Victorian community; PAC opens Pitt Wood Village.
In this wrap:
- Estia acquires four facilities
- Ingenia acquires $16 million Victorian community
- PAC opens Pitt Wood Village
Estia acquires four facilities
Estia has announced it will acquire four new residential aged care facilities, bringing its number of facilities to 58, with 4,697 places.
Three of the facilities are in Adelaide and one on the Gold Coast.
CEO of Estia Health, Paul Gregersen, said the acquisitions would deliver 256 additional single beds when extensions were completed.
In less than a year since its debux on the ASX in December 2014, Estia has acquired a total of 1,084 additional places.
Mr Gregersen said: “We continue to see plenty of opportunities in the market and remain confident of achieving our target of 10,000 places by FY2020 through developing concentrated networks of high quality homes that appeal to older Australians and their families.”
Ingenia acquires $16 million Victorian community
Ingenia Communities Group announced it will acquire the Lakeside Lara manufactured home community in Lara, Victoria, for $16.3 million.
Lakeside Lara is a large-scale development on 8.3 hectares located 60 kilometres south west of Melbourne, in close proximity to five existing Ingenia Garden Villages, or rental retirement villages.
Lakeside Lara comprises 56 existing and occupied homes, 13 completed and unsold homes and 164 development sites with all approvals in place.
A $3.5 million clubhouse was completed in January 2015.
PAC opens Pitt Wood Village
Presbyterian Aged Care’s new $16 million Pitt Wood Village at Ashfield has recently been opened.
The development is centred on the heritage-listed Pitt Wood House, which has been refurbished to house the provider’s Inner West community care services, with a secure area for dementia day care, as well as space for the current day therapy and respite programs.
The project includes 23 independent living units provided in a new building to the north of Pitt Wood House and two villa units to its south. Residents are now moving into their new homes.
PAC chief executive officer, Paul Sadler said Pitt Wood House held a special place in the history of PAC as it was from here the Presbyterian Church began providing aged care accommodation in 1942.
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