Bolton Clarke, Australia’s largest independent not-for-profit provider of independent living, health and aged care services, has negotiated the purchase of a parcel of land in the Queen Street Village on Queensland’s Gold Coast.
The land will be used for the construction of an integrated vertical retirement development in the $550 million master planned mixed-use development inclusive of independent and assisted living with co-located residential aged care services.
The site of the former Gold Coast hospital in Southport is well positioned with transport (Nerang light rail) and direct access to allied health and medical services, and will see the development of residential apartments, a hotel, cinema, supermarket, childcare centre and a broad mix of retail, food, beverage, lifestyle and entertainment operators.
As the needs and circumstances of each resident change, this integrated vertical retirement space provides those living in the development an opportunity to transition within the site and ensures they can enjoy life at the same address for as long as possible, creating a home for life in this exciting new precinct.
“With 20% of residents in the region aged 65 and over and growth in the Northern Gold Coast region, we are addressing a potential undersupply of independent and assisted living spaces. Being part of this new intergenerational development will allow us to provide new options for retirees supporting lifestyle preferences with access to a multitude of services at their doorstep,” Bolton Clarke Group CEO Stephen Muggleton said.
The acquisition is part of a Bolton Clarke $565 million pipeline of sixteen major projects, including the old RDNS Head Office site in St Kilda, Victoria a new greenfield development in Bundoora in Melbourne’s northern corridor, a new site in bay side Brisbane, a canal development at Bundall on the Gold Coast and a co-located development at Westmead in Sydney.
It is expected that this mixed-use master planned project will be developed over several years with Stage 1 of the development, comprising the hotel, cinema, supermarket and food and beverage precinct, scheduled to commence construction in 2019.
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