Australia’s leading independent law firm, Corrs Chambers Westgarth, has acted for Karingal Green Health, Aged and Community Care Pty Ltd (Karingal Green), on it’s A$90 million development of the Karingal Green residential aged care precinct in High Wycombe, WA.
Corrs Chambers Westgarth advised on the initial acquisition of the site and financing, as well as the agreement between Karingal Green, a subsidiary of leading aged care services provider Hall and Prior, and Broad Construction Pty Ltd, a Cimic Group Limited subsidiary, for the construction of a residential aged care facility to serve residents of the eastern Perth region and meet the growing demand for aged care in Western Australia. This world class development furthers Hall and Prior’s vision of being a market leader in the provision of aged care services.
Due for completion by the end of 2019, the 1.6 hectare community will house 160 residential aged care beds to cater for both high-dependency and low-care residents, as well as in-home and community packages for hundreds of local residents. In addition to standard amenities, the precinct will also include a state-of-the-art wellness centre, hydrotherapy pool, café and cinema, as well as a primary health clinic.
Karingal Green will relieve the high demand for aged care services in the eastern Perth region resulting from its rapidly ageing population. According to Hall and Prior’s Chief Executive Officer Mr Graeme Prior, “The development of Karingal Green will be a very big step towards enabling many more local residents to age in or near the community where they have lived, and to remain close to their family and friends.”
The precinct’s impact will extend beyond its residents, with approximately 250 new job opportunities for locals expected to be created. It will also offer comprehensive health and lifestyle programs, rehabilitation services, day respite and onsite staff development, training and research facilities to ensure the highest quality of care and services are available.
Corrs lead Partner on the matter, Andrew Chew, said “We are proud to have advised on a development that will change so many people’s lives and improve access to aged care services in the area.”
The project is also of significance to the Commonwealth Government, who have granted Hall and Prior A$12 million of capital funding support to complete the project. Hall and Prior have also secured funding from National Australia Bank and FES Super.
The Corrs Construction team was led by Partner Andrew Chew, with support from Lawyers Jennifer Gamble and Cristina Beretta. Partner Alan Churley advised on the property aspects of the transaction, with Consultant Phil Wilson providing finance advice.
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