$200 Million Village in Northern Beaches Four Times Over-Subscribed Pre-Launch

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‘Retirees Flock to Buy $200 Million Village Development,’ Manly Daily, August 27, 2008, p. 9.

One thousand people have reportedly registered for the largest retirement village to be built on Sydney’s northern beaches in spite of the fact it has yet to be launched. The $200 million Warriewood Brook development is set to comprise 260 ILUs, a 119-bed aged care facility and a state-of-the-art community centre with resort-style facilities. Chief executive of Anglican Retirement Villages (ARV) Ken Barber said: “Our proposed development will allow residents to age in place in familiar surroundings with a sense of security… We are encouraging people to get on the waiting list even if they are not thinking they want to move there for five or seven years.” ARV has started on the first two stages of the development, with 64 ILUs to be completed by mid-2009 and the aged care facility later that year. Prices will start at around $300,000 for one-bedroom apartments.

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