Ryman to spend more than $200 mln on third Melbourne village

Mon, 01 Feb 2016

By Sophie Boot Feb. 1 (BusinessDesk) - Ryman Healthcare, which posted a 23 percent gain in first-half profit, will spend $200 million building its third retirement village in Melbourne as part of its planned expansion in Australia's second-biggest city. The Christchurch-based company purchased a 2.5 hectare site in Burwood East, part of a Frasers Property Australia redevelopment of the 20.5-hectare former Burwood East brickworks, it said in a statement. The site will be redeveloped into a $200 million retirement village for more than 400...

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