This article is from the Australian Property Journal archive
A 14.26-hectare Cairns landholding earmarked for retirement village and housing development has been offered for sale.
Colliers International’s Justin Hazell, Mark Agius and Heidi Lange are marketing Lot 32 Aroona Street, Red Peak Forest Estate in the northern beachside suburb of Caravonica, by Expressions of Interest, closing 16th August 2018.
The masterplan includes 78 retirement villas, 144 independent living, low-rise apartments, 16 residential allotments and a childcare superlot, as well as communal and recreational facilities incorporating eateries, bowling rinks, tennis court, pool, walking trails and event spaces.
It also features existing infrastructure, an expansive landscaped lake and extensive road frontage.
“There is exceptional development opportunity here for buyers who are looking to expose themselves to an excellent demographic profile,” Hazell said.
He said there is scope to decrease the size of the retirement village superlot by excluding the lands to the south-west and east, with the owner willing to consider retaining these areas.
The site is surrounded by residential properties and is located about 11 kilometres from the Cairns CBD. Caravonica is in the foothills of Queensland’s tropical rainforests
Nearby public transport offers easy access to shopping centres, a range of medical and recreational facilities, James Cook University, the CBD and beach areas.
“Our demographic analysis confirms that there are strong population drivers in the Cairns region to support current and long-term demand for retirement living,” Hazell said. “With an ageing population who are living longer, good supporting demographic forecasts and a general undersupply of new retirement stock, the retirement sector is continuing to strengthen, especially in growth regions.”
Australian Property Journal
