Japara Healthcare Limited
(ASX:JHC) has spent $3.35 million on a new greenfield development site in Glen Waverley, Victoria.
The 2,800 sqm site on Highbury Road is in a prime metropolitan suburb of Melbourne which Japara says is currently under serviced by aged care facilities. Development of the site is expected to add 65 new aged care places to Japara’s portfolio within the next 3 years.
This brings the health care providers existing pipeline of development projects to over 690 planned beds and follows the purchase of the 258 bed portfolio of Whelan Care in Adelaide in August.
Japara Healthcare reported a net loss of $2.9 million for the 2014 financial year.
