High-rise resort villages way of the future
High-rise resort villages are set to become a feature of Australia’s retirement-living landscape as governments seek to better utilise existing infrastructure and baby boomers refuse to compromise on lifestyle, according to Aged Care Queensland.
The aged-care industry body also says demand for retirement homes is set to grow, with retiree numbers to rise swiftly in the next 25 years.
Aged Care Queensland executive, Sharon Threadwell, comments at the official opening of Grande Pacific Broadwater in Southport, Australia’s first five-star, high-rise retirement resort, were reported on the Australia Ageing website.
The resort, developed by Grande Pacific Lifestyle Retirement Resorts, fronts the Broadwater at 70 Marine Parade, Southport. It has 108 apartments, all with water views, extensive facilities and services and welcomed its first residents in November.
Ms Threadwell said the resort was a unique and pioneering development that exemplified the future for retirement living.
She said recent studies had confirmed growth in demand for retirement living options and that, in the next 25 years, southeast Queensland’s over 65 population would increase by 527,000.
“Baby boomers are demonstrating that they want to influence how their future needs are met and, increasingly, public policy is being shaped by their expectations,” said Ms Threadwell.
Well located facilities with greater social and business amenity, such as Grande Pacific Broadwater, would be in demand … and design features and size would need to be comparable to pre-retirement accommodation.
“The capacity to deliver assistance with daily living and clinical support are increasingly valued services,” said Ms Threadwell.
She said technology would factor strongly in purchase decisions, with buyers wanting “security and access control, emergency call facilities and proximity locators, closed-circuit TV, high bandwidth broadband and wireless internet, business centre hardware, pay TV, cinemas, internal communication systems and more”.
“We are running out of time to have the infrastructure in place to deliver the range of services and accommodation needed,” she said.
Research by Jones Lang LaSalle indicates, with no change in the current 5.25% penetration rate for retirement accommodation, the growing number of retirees could drive demand for an additional 65,000 retirement community homes over the next 15 years.
However, Jones Lang LaSalle said the penetration rate could rise to 7.5% per cent, with demand for new retiree accommodation over the next 15 years exceeding 140,000 homes.
Ms Threadwell said that, while supply of retirement accommodation in major centres at present outstripped demand, “this trend will reverse when the market improves and competition for premium properties will drive entry costs up and vacancy rates down”.
