Primelife Corporation has bought the Avonlea Grange Aged Care Facility for $2.5 million.
The facility is currently operated by Primelife. The purchase is a result of orders made in the Federal Court for the final winding up of the managed investment scheme relating to the facility.
The facility is a modern 70 low care bed hostel located in Mentone, in the southeast corridor of metropolitan Melbourne.
Settlement will occur on December 05, 2006.
By Adam Parsons
