AND FINALLYREAL ESTATE INVESTMENT TRUSTS & FUNDSSOCIAL INFRASTRUCTURE

TriCare starts on Williams Landing facility

Print Friendly, PDF & Email

CONSTRUCTION is now underway on TriCare’s first ever residential aged care facility in Victoria, as moves to meet the needs of Australia’s ageing population continue.

The 126 bed facility will be based in Melbourne’s western suburb of Williams Landing, a t16 Charsworth Way, as part of Cedar Woods’ $2.5 billion masterplan for the suburb, with Total Construction delivering the first stage of the four floor development,

“Projects like this, while located at the heart of the Williams Landing community, also provide essential facilities for the ageing population across the greater Wyndham area,” said Patrick Archer, COO at Cedar Woods.

The population of over 65-year olds is expected to triple in the Wyndham area over the coming 20 years, according to data from the ABS.

“Projects like this, while located at the heart of the Williams Landing community, also provide essential facilities for the ageing population across the greater Wyndham area,” said Archer.

“We are creating a community that delivers benefits across generations, from childcare to aged care facilities. Locals who have lived in the area with their families for decades deserve high quality facilities close to home. This facility will keep them within the community they know.

Upon completion and once fully operational the first stage of the facility will create as many as 140 jobs for the area.

“Job creation is extremely important in growing communities so projects like this present a great benefit for local aged care workers who want to work close to home,” said Archer.

The facility will offer residents amenities such as communal and private dining areas and lounges, a wine bar, care, in-house cinema and salon, as well as access to a glass conservatory, landscaped gardens and a greenhouse.

“As a Queensland-based company, we are excited to be expanding further in the Victorian market with the construction of TriCare Williams Landing.

TriCare will add this new facility to its portfolio of 24 retirement villages and aged care facilities in Queensland, New South Wales and Victoria.

“We are confident the growing number of ageing residents in the broader community will benefit from this significant development for years to come.”

The aged care sector has had a trying 12 months after the ravaging impact of COVID-19, while the royal commission also uncovered long standing systemic problems in the sector.

As a result the federal government’s budget promised record funding of $17.7 billion for a comprehensive aged care reform package.

TriCare at Williams Landing is expected to be completed and operational by late 2022.

Related posts
REAL ESTATE INVESTMENT TRUSTS & FUNDSRESEARCH

Centuria Industrial shows off green credentials

THE Centuria Industrial REIT (ASX: CIP) has opened its $18.1 million prime grade industrial facility…
Read more
CORONAVIRUS COVID-19 PANDEMICREAL ESTATE INVESTMENT TRUSTS & FUNDS

CBD retail values take a smashing

ASX-listed shopping centres landlord Vicinity has taken a further $164 million revaluation hit to…
Read more
REAL ESTATE INVESTMENT TRUSTS & FUNDS

Petrol stations drive APN Retail values higher

DEMAND for fuel station and convenience retail assets has driven a 7.9% portfolio revaluation…
Read more