Monday, 25 September 2017

Announcement

GENERAL: RYM: Ryman Healthcare expands into Geelong

15 May 2017 10:21NZX
Ryman Healthcare expands into Geelong

Sixth retirement village in Australia on the way

Ryman Healthcare is planning to build a new $100 million retirement village
in Geelong, Victoria.

The new village in Highton will be Ryman Healthcare''s sixth village in
Australia, and will offer Geelong residents a range of retirement living
options as well as aged care and specialist dementia care.

Ryman Healthcare Development Manager Andrew Mitchell said Victoria''s second
biggest city had been on the company''s radar for some time.

"Geelong is a vibrant city with an ageing population and we think residents
will like the concept of a resort-style village with a continuum of care. We
know Geelong residents love the place, and it will be great to be able to
build them a retirement village so they can be cared for without having to
move."

Ryman plans to build a village with independent living apartments and
townhouses, assisted living apartments, and an aged care centre. It will
include an indoor pool, hair and beauty salons, a bowling green, and a movie
theatre.

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

The South Valley Rd site in Highton covers 3.2 hectares and is a
privately-owned site.

The new village will free up local houses for sale, create more than 100
long-term jobs and inject about $10 million a year into the local economy.

Mr Mitchell said the site appealed because of its prime location just 6km
from the Geelong CBD.

"It''s in a great area and is handy to Wandana Heights and is a short hop to
Waurn Ponds Shopping Centre. Our research shows there is a shortage of
retirement living options in the area, and we think Geelong residents are
going to love the idea of a Ryman village coming to town."

Mr Mitchell said Ryman would be consulting with residents before submitting
plans for the village. Ryman designs, builds and operates its villages
itself.

Ryman Healthcare was founded in New Zealand 33 years ago. The company opened
its first village in Melbourne in 2014 and is building a new village at
Brandon Park.

Ryman also has sites at Burwood East and Coburg in Melbourne and at Mount
Eliza on the Mornington Peninsula.

About Ryman Healthcare: Ryman was founded in 1984 and has become one of New
Zealand''s largest listed companies.  The company owns 31 villages and serves
10,000 residents in New Zealand and Australia. Each village offers a
combination of retirement living and aged care.

Media advisory: For further information, photos, interviews or comment please
contact Ryman Healthcare Corporate Affairs Manager David King on 021 499 602
(0064 21 499602).
End CA:00301156 For:RYM    Type:GENERAL    Time:2017-05-15 10:21:17
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