A Queensland retirement village operator has brought forward the construction of the second stage of a luxury golf course retirement living community, after securing a solid sales result for the project's first stage.
The final stage of Aura Holding's Somerset project on Brisbane’s 36-hole Indooroopilly Golf Course will provide 88 apartments, including four spacious penthouses, with stunning views across the parkland course.
Prices range from $750,000 to $1.6 million, with prices on application for the penthouses.
Stage one is due for completion before the end of 2021 and offers 80 apartments and four penthouses.
Sales have been strong with 60 per cent already reserved, prompting Aura Holdings to bring forward construction of the final stage.
Early works for Somerset Indooroopilly stage two will now start in October 2021 - six months ahead of schedule - with major construction to begin in March 2022.
The first residents are expected to move into stage two in September 2023.
The exclusive independent-living community, only 7km from Brisbane’s CBD, is named after the original homestead, Somerset, built around 1900 by district pioneer Henry Thomas on a site that is now part of the golf course.
Aura has six vertical retirement villages in various stages of development and operation in Brisbane, Sunshine Coast, Gold Coast and Toowoomba.
“Our long experience in the industry has taught us how important it is to focus on our residents,’’ Aura Holdings Director Tim Russell said.
"Somerset is going to be something very special and is one of our most anticipated developments."
Many of Somerset’s residents are downsizing from their family homes in the area and they don’t want to move away but wish to live in a safe and supportive community without any home and garden maintenance.
“Somerset has certainly struck a chord with golfers and other retirees alike."
Residents will share state-of-the-art community facilities including a pool and spa, gymnasium, wine room, library, private dining room, outdoor barbecue areas, with a hairdresser and consultation suites for allied health professionals.
Two apartments in stage one have been finished, styled and furnished, and are now open for inspection by appointment only.
In early July, Aura said the first half of 2021 was a record period for sales, and that it couldn't build upmarket communities quickly enough to meet demand from retirees.
Despite periods of COVID-19 lockdown, Aura Holdings sold 147 apartments (each averaging more than $800,000) in the half-year across its five established or under construction locations in Brisbane, and the Gold and Sunshine Coasts.
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