This article is from the Australian Property Journal archive
AGED care resort living group Odyssey Lifestyle Care Communities has snapped up a site within Cru Collective’s $2 billion master plan waterfront estate for a new seniors’ community.
The 3,600sqm site, located at Lake Orr Drive Burleigh Waters, was purchased with an existing approval for buildings up to 45 metres.
“We are currently in talks with architects on how many levels and apartments will be viable, but this community will include a combination of one, two, and three bedroom apartments with additional penthouse options available,” said Phil Usher, CEO and founder at Odyssey.
“This is the ideal blend of retirement and aged care, with no waiting lists and you don’t need to move again as all the services, such as care, are delivered to you as needed into your home from our dedicated on-site team.”
Cru Collective’s Burleigh Waters master plan community will see civil works and site establishment commence in early July, including the construction of internal roads, stormwater, sewer and electrical infrastructure.
“We’re thrilled to welcome Odyssey to our Burleigh Waters project. They’re a leading authority in aged care and will make a valuable addition to our masterplan vision,” said Chris Bolger, managing director at Cru Collective.
“The size and location of this site enables it to become a thriving precinct and will attract some heavy hitters. Preliminary plans include a mix of waterfront residential, retail – including a market square, commercial, medical, and now; the exciting addition of an Odyssey Lifestyle Care Community, and we are thrilled to be working with Phil and his expert team.”
The acquisition follows Odyssey’s recent settlement of a site in Hope Island, as well as the pouring of the first floor slab at their Chevron community, which is scheduled for a 2025 completion.
“The Burleigh Waters development, like with Robina and Chevron, will be built to reflect the current living needs of seniors, which is based on feedback we’ve received from Robina and the wider community,” added Usher.
“Since Robina opened in mid 2020, we’re adapt with seniors’ living preferences and we always go out of our way to understand what our cohort need and want.”
In the seniors living space retirement living provider Levande recently snapped up a development site in Geelong for more than $20 million, Gaw Capital Partners and GreenFort Capital have also recently formed a joint venture to develop $800 million in land lease community, with US giant Invesco teaming up with Stockland in a $1.1 billion deal to expand in QLD and NSW, while Avid Property Group announced its expansion into the LLC sector with a $1.1 billion new business, Vantage.
With affordable nursing homes operator Hall & Prior Aged Care have added Blue Haven Bonaira to its portfolio at a discount price of $95 million from the Kiama Council.
Additionally, a significant development site in Vermont South changed hands in recent weeks, with the land parcel picked up by retirement living developer Keyton, formerly Lendlease Retirement Living.
