Metlifecare has today announced the unconditional acquisition of a greenfields development site in Beachlands with plans to build a $180 million retirement village development. The new village will provide a full continuum of care, from independent living through to hospital-level care. There will be at least 210 independent living units and a care facility.
The new village is expected to be built over approximately four years, with the first stage planned for completion by 2020.
Metlifecare chief executive Glen Sowry describes the development as “a really exciting project”.
“This site is one that we’ve been evaluating for some time,” he says.
The growth potential of the area held big appeal for Metlifecare. Sowry notes that the number of over 75-year-olds in the area is set to double in the next 20 years.
The new village will plug a gap in the retirement services available for the area’s older-than-average population; there are currently no other retirement providers within nearly 20km of the Beachlands site.
“So there is very little competition out here and we believe a lot of demand.”
Sowry says the village will mirror the “relaxed coastal vibe” of its community.