$107M golf club redevelopment with Watermark Living’s 102 units approved

Published on

A retirement village over three five-storey buildings will be built on Chatswood Golf Club in a $107.3 million redevelopment of the land, 10km north of Sydney’s CBD, after four years of planning.

Sydney North Planning Panel has given approval for the construction of a 106-unit retirement complex along with a new golf club building and facilities including a hydrotherapy pool, bistro, salon, library and a cinema.

As we covered HERE, the project was first announced in May 2017, as a joint project with new village entrant Folkstone investment funds, who subsequently was acquired by Charter Hall, who eventually decided to abandon this strategy, leaving the project with Watermark.

Watermark partners Tony Olding, Chris Watt and Enzo Marchione

Watermark Living, which operate “serviced self-care” facilities in Castle Cove, 11km north of Sydney’s CBD, and manage the Mounties’ Freshwater village (at Harbord Diggers), 17km north-east of Sydney’s CBD, will operate the Chatswood village.

A new four-storey clubhouse will be available to the senior residents, alongside club members and visitors.

Chatswood Golf Club President Alan Hall-Watson said the development approval secured the financial future of the club.

“Instead of selling off the land, we looked at ways of diversifying and ensuring the club becomes financially viable.”