NOT for profit organisation and retirement village specialist Villa Maria has paid $8.75 million for a 6,215 square metre Camberwell development site.
 
The 450 Camberwell Road property was sold with a permit for a 64-unit retirement village, capitalising on the site’s other street frontages to Athelstan Road, and Bowen Street, opposite the Camberwell Central Bowling Club.
 
Nichols Crowder director Matt Nichols sold the Camberwell property on behalf of the Macquarie affiliated Retirement Villages Group. Buildings on the site were once used by the Salvation Army. RVG recently sold a slice of the land to another aged care developer.

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