AMP Capital Investors is selling out of a $40 million mixed-use village, earmarked for former farmland near Phillip Island’s town centre of Cowes.
 
The Sydney-based fund manager can expect to make around $9 million from the 26 hectare Ventnor Road development site, which will be sold with a permit for a 90-bed aged care facility, 195 independent living units, a retail conference centre and a 128-lot subdivision.
 
An AMP spokeswoman said the property is held by a closed-end fund which has a set period of time in which to invest and then sell its properties.

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