This article is from the Australian Property Journal archive
LIFESTYLE Resorts has started construction on their seventh retirement homes development, Lakeview Lifestyle Resort.
Lifestyle Resorts is headed by Gold Coast retirement developer Bob Morrison, who has teamed up with Investec Bank to develop 170 retirement homes.
Investec Bank provided finance for the project and the partners recently purchased the 6.5 hectare site at Fryar’s Road, Eagleby on the Gold Coast with an existing development approval.
Morrison said Lakeview Lifestyle Resort will offer an independent living option to suit active retirees aged 55 years to 80 years.
“This is the ideal setting for active retirees, with a range of facilities to be built on site including a club house, bowling green, 20m lap pool, gym and cinema,” he added.
This is the seventh development for Morrison since 2000, with more than 1200 dwellings situated across the seven sites.
“We are always on the lookout for suitable sites that are between 6-10 hectares and close to facilities in order to continue to grow on a national level.” Morrison said.
Investec Bank’s Tim Wilson over 50’s retirement concept has grown significantly in the last 10-12 years, experiencing a phenomenonal surge in popularity and he expects it to grow to be a serious competitor to traditional retirement village developments.
“South East Queensland has become a strong-hold for these developments with the Gold Coast being home to the top three sites, making the region an Australian centre of excellence for this market.
“The transaction offered a great opportunity for Investec to back Bob, who is one of the industry pioneers. It is just the first step in backing Bob to grow the Lifestyle Resorts business, not only with sites, but also other opportunities to grow the business,” he added.
Australian Property Journal
