Gold Coast: first high rise retirement village
Listed Qld property developer City Pacific is to build a luxury 25 level, 171 apartment ‘seniors only’ tower at Southport on the Gold Coast. It will offer residents a la carte room service, an onsite bar and rooms built to five star hotel standards.
It will be aimed at the top end of the seniors market with one bedroom units priced from $380,000 up to $1.7 million for a penthouse.
The developer said the development highlighted a fundamental shift in the aged care retirement living sector which has been traditionally marked by cheap accommodation in the outer suburbs.
City Pacific said it had also acquired development sites in Victoria and New Zealand with plans for similarly priced retirement resorts. The developments will be undertaken in a 50-50 joint venture with Hallmount which is associated with Gold Coast developer David Cherry and NZ group Protac investments.
