Ambitious plans for Levande
The retirement living operator’s land purchase will be the first of many.
Retirement living operator Levande has exchanged contracts for its first land acquisition.
The 1.75-hectare site – located in Bentleigh East, about 15 kilometre south-east of Melbourne’s CBD – is earmarked for a new retirement community, housing around 400 residents.
Levande intends to construct independent living apartments on the land across four buildings. The site will also include a village centre.
Levande’s chief executive officer Kevin McCoy said the site was ideal. “It ticks a lot of boxes for our future residents, most of whom we expect will be local to the area.
“Being able to stay close to where they’ve lived for years means they’ll be able to keep their social connections, their healthcare providers, and all the other lifestyle features that are familiar and important to them.”
The deal is reflective of Levande’s growth strategy – acquiring assets in prime locations to satisfy the increasing demand for premium retirement living close to where prospective residents already live.
Levande’s growth plans are ambitious, said Mr McCoy. “We hope to make an announcement soon on two other development sites with a target of acquiring 20 new retirement village sites within the next three years. Across our target markets of Sydney, Melbourne, Brisbane and Adelaide we aim to build at least 500 new homes a year.”
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