Ryman Healthcare has secured a site for its second retirement village in Melbourne and expects to spend more than $100 million to build it.

The Christchurch-based company, which last week reported a 43 per cent boost in annual profit, has purchased a 5.5 hectare property in Melbourne’s eastern suburbs from the Victorian government as part of the state’s surplus land programme, it said in a statement. The former Brandon Park Secondary College site will…