This article is from the Australian Property Journal archive
BECTON has bought its first retirement asset in Western Australia.
The diversified property group has paid an undisclosed amount for Woodstock West, a 123 dwelling retirement village in Bunbury.
Becton’s chief executive Hamish Macdonald said the group already has significant commercial property investments in WA and this is its first retirement asset in this state.
Becton now owns and operates four retirement villages, Classic Residences Brighton and Menzies Malvern in Victoria, and Dee Why Gardens in New South Wales, with a total of 850 dwellings.
In addition, there are three assets currently in development that will contribute an additional 350 dwellings to the Becton retirement business between FY08 to FY10.
Last week, Becton appointed the former head of Primelife Jim Hazel to the role of non-executive chairman of the board of Becton’s retirement business.
Australian Property Journal
