Regis acquires seized parkside property for new facility

Regis Aged Care has purchased a $9.6 million property in Parkside, Adelaide, previously seized from bankrupt businessman Aaron Hickmann. The acquisition of the Glen Osmond Road site is a strategic step to expand Regis’s aged care offerings in South Australia, with plans to develop a 120-bed residential facility to meet growing demand for high-quality care.

The 4084-square-metre property, which includes the former Cappo Seafood warehouse and a vacant two-level office building, was acquired through a competitive sales process managed by Colliers. The site, spread across three titles, attracted significant interest, with over 75 inquiries and nine formal offers from developers and institutional buyers.

Its prime location near Adelaide’s CBD, major transport routes, and health infrastructure, combined with zoning that permits development up to five storeys, made it a highly sought-after asset. The competitive process underscored the scarcity of premium redevelopment sites in the CBD fringe, securing a strong sale price for the receivers.

Originally slated for a $37 million residential and commercial project, the property was acquired by Hickmann’s company, Zamaz Property Seven, in 2022. However, following financial difficulties, it fell into receivership in November 2024, with debts owed to multiple creditors, including a Melbourne-based fund manager, a small business lender, and Revenue SA. Regis plans to commence construction on the new aged care facility around 2028 or 2029, adding to its existing South Australian portfolio, which includes facilities in Davoren Park, Marleston, Linden Park, and Kingswood.

The Parkside site’s strategic location and development potential position it as a key addition to the company’s network, ensuring it can deliver modern, high-quality care to meet future demand.

This news comes only weeks after Regis announced their acquisition of Rockpool Residential Aged Care for $135 million on 24 July 2025. The purchase, adding 600 beds across three Brisbane facilities and one on the Sunshine Coast, brings Regis’s total to 72 homes with 8200 beds.

The transaction, expected to finalise on 1 September 2025, aligns with Regis’s strategy to expand through high-quality facilities, complementing its focus on strategic acquisitions like the Parkside site.