Ryman Healthcare buys landmark Mornington Peninsula property

Ryman Healthcare buys landmark Mornington Peninsula property

New lease on life for historic estate at Mt Eliza

Ryman Healthcare has bought a magnificent waterfront site overlooking Melbourne’s Port Phillip Bay which will be developed into a beachside retirement village.

The 8.9 hectare Moondah Estate site in Mt Eliza is 45 minutes from Melbourne’s CBD and was built as a country estate by James Grice in 1888. It was later owned by Sir Reginald Ansett who turned it into a luxury hotel, but the property is best known as a campus for the Melbourne Business School.

Melbourne Business School has sold the estate to Ryman Healthcare, New Zealand’s largest retirement village operator.

Moondah Estate is regarded as one of the jewels in the crown of Mt Eliza and Ryman Healthcare will preserve its historic features.

“This is an outstanding site in terms of its natural beauty and it is going to make an absolutely stunning place to live for retirees who love the peninsula,’’ Ryman Managing Director Simon Challies said.

“We think it has great potential and we are also conscious that ownership of such an historic site is also a privilege. It will be great to see Moondah Estate get a new lease on life as a beautiful home for retirees.’’

Mr Challies said the company’s research showed there was a shortage of retirement living options at Mt Eliza and on the wider Mornington Peninsula.

The new village would include independent living apartments and aged care, including specialist dementia care, and employ more than 100 staff.

“We hope that our plans will provide a comfort to older peninsula residents with concerns about the future that they can stay in the area they love and get the care they need.’’

Ryman will work closely with the peninsula community to design a village in keeping with the surroundings.

Ryman is different to most Australian retirement operators in that it operates an integrated care model. Ryman villages offer independent living apartments, assisted living and aged care on the same site so that residents can be looked after no matter how their care needs change over time.

“We think our first village was a great success because Melburnians like the way our integrated model works,’’ Mr Challies said.

“We don’t think it is good enough to sell someone a home and then ask them to move on when their health changes. It is early days but we believe this market acceptance, and the ageing population, provides us with a great opportunity to provide homes and care as well as sustainable jobs.’’

Ryman Healthcare opened its first retirement village in Melbourne in 2014 and Moondah Estate is its fourth site in Australia.

Ryman Development Manager Andrew Mitchell said Moondah Estate was a great site which fitted well with Ryman’s plans to expand its portfolio in Victoria.

“This puts us on track to have five villages in Victoria by 2020,’’ Mr Mitchell said.

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