Despite being located more than 50km from the Sydney CBD, and well away from the State’s coastal strip, Penrith has emerged as one of Australia’s new downsizing hotspots.
Penrith was the eighth most-searched suburb on Downsizing.com.au in NSW, for the year to March 2020.
The popular perception of Penrith is that it is predominantly home to younger families.
In fact, Penrith’s proportion of home builders and younger families (people aged 35-49) is slightly below the greater Sydney average, while its proportion of older workers and empty nesters and retirees is slightly above the Sydney average.
What’s more, Penrith has a growing list of attractions and services suitable for Australians over 50, including:
- The Great River Walk along the Nepean River
- A new convention centre and serviced apartments which are currently under construction at the Panthers club
- An emerging and growing arts and cultural scene
- A new operating suite with 15 operating theatres as part of stage one of the $1 billion redevelopment of Nepean Hospital, due for completion in 2021.
Developers have launched a number of new seniors housing projects in the area, which have sought to target the growing over 50s market.
Thornton Park (Southern Cross Care)
Located in walking distance to the Penrith CBD, Southern Cross Care’s Thornton Park retirement community was completed in late 2018 and is appealing to buyers from the Nepean and the Blue Mountains.
With the tagline ‘Life Starts at Thornton Park’, the village is set on a tree-lined street among modern family homes. The tranquil setting is close to Penrith landmarks, such as historic Sheffield Oval and the multi-million dollar canal waterway.
The retirement village component of the project has 48 luxury independent living apartments, with configurations including one-bedroom plus study, two-bedroom, two bedroom plus study and three-bedroom.
Prices start at $495,000 in this low rise, three-storey development.
Pets are welcome and all units come with secure underground parking and lockup storage.
For retirees requiring residential care, the development offers 100 private suites, all with ensuites.
Helen Emmerson, CEO of Southern Cross Care (NSW & ACT), said Penrith was chosen for her organisation’s retirement living project because of the available land and the area’s expected growth and demographic change.
“Penrith’s population projections show the 65 plus population will increase by up to 55 per cent over the next ten years and for the 80 plus population a 75 per cent growth is anticipated over the same period,” Ms Emmerson said.
First Fleet Village (RSL LifeCare)
RSL LifeCare completed its low-rise, Penrith-based First Fleet Village in 2019.
"First Fleet Village in Penrith is an intimate boutique village providing residents with a small, yet spacious community of only 46 units,” said village manager Crystal Fleming.
“There are three different styles of units to choose from, with the village minutes from Nepean Hospital and Penrith CBD and with local transport on its doorstep.”
As at March 2020, there were 25 units available for sale, priced between $550,000 and $580,000.
All homes are two-bedroom plus study, with one bathroom plus ensuite, and one garage.
The village features a clubhouse, practice bowling green, BBQ area and vegetable garden with organic produce. Activities include a happy hour, guest speakers and games and bowls afternoons.
First Fleet Village is located next door to RSL LifeCare’s 82-bed aged care home (Governor Phillip Manor). The home provides skilled care for seniors who need medical or nursing care, as well as rehabilitative services.
Kingfisher Grove (Lendlease)
The suburb of Jordan Springs was registered in 2011 and is located 7km away from Penrith’s city centre. The suburb includes 17 hectares of parks and open space, including a three hectare lake.
With a combination of villas and apartments, Lendlease’s Kingfisher Grove is located near Jordan Springs’ town centre.
Stage one of 51 beautifully designed, one-storey villas is currently being developed with residents expected to move in during the last quarter of 2020. The villas are priced from $680,000 to $730,000.
Stage two will be 139 apartments, to be released later this year. Both the apartments and villas will be located within six-storey buildings.
Described as a vibrant, new, retirement living community, Kingfisher Grove will feature:
- CCTV in common areas, as well as well-lit footpaths, intercoms and a 24-hour, emergency call system
- An exclusive clubhouse, which includes a heated pool and gym, and a bowling green and cinema
- A dedicated on-site manager
Downsizers from surrounding suburbs, including Penrith, Cranebrook, Emu Plains, Glenmore Park, South Penrith, St Clair and the Blue Mountains, are expressing interest in the homes.
Tony Randello, Managing Director Retirement Living at Lendlease, says the sustainable features and minimised energy costs, along with the location, are drawcards.
“The development is in an ideal location within Jordan Springs, with the Town Centre opposite, which includes retail, a medical centre, chemist, cafes and dining options,” Mr Randello said.
“The local bus stop is located right out the front and - importantly - the village is also located within proximity to local hospitals.”
A partnership with Catholic Healthcare will see an aged care facility built adjacent to Lendlease’s retirement village community. The 144-bed home is currently at development application stage with Penrith City Council.