New owner, new plan for RetireAustralia site
- Inner-city push: Aura expands with Brisbane’s Lutwyche retirement village
- Community first: Apartment numbers halved to create more open space
- Growing pipeline: Lutwyche follows Aura’s new Milton partnership
- Full circle: Founders return to a former RetireAustralia site
Queensland-based operator Aura Group Holdings has lodged a significantly revised proposal for a Brisbane retirement village site acquired from RetireAustralia.
In May, Aura Holdings announced a partnership with the Anglican Church of Southern Queensland for a site in Milton, a riverside inner suburb of Brisbane.
Just two-and-a-half months later, the business founded by Tim Russell and Mark Taylor, has announced the acquisition of RetireAustralia’s site in Lutwyche, 5km north of Brisbane’s CBD.
Aura, which announced a new investment partner in March, submitted a Development Application to Brisbane City Council last Friday, reducing the number of apartments from 265 to just 130.
The revised design allows for significantly more green space across the site, creating a more open, landscaped setting for future residents.
“The reduction in density reflects Aura’s commitment to delivering retirement communities that prioritise community, liveability and amenity over scale,” Aura Holdings Chief Executive Officer, Sean Graham, said in a statement.
“This is a rare opportunity to deliver a genuinely unique retirement living option in Lutwyche, an established, tightly held inner-city location with a rich local history and a growing need for age-appropriate housing.
“We’re looking forward to giving this much loved site a new chapter as a retirement community and enable locals to remain in their community.”
The site was previously home to the world-renowned Fancutts Tennis Centre, established by champion tennis players Trevor and Daphne Fancutt, which hosted tennis legends including Rod Laver, Pat Rafter and Pat Cash over the decades.
“Securing the Fancutts site is a significant milestone for Aura,” Sean added.
The acquisition marks a full-circle moment for Tim and Mark, who previously co-founded and led RetireAustralia, Australia’s largest privately owned retirement village operator, before establishing Aura Holdings in 2016.
The acquisition adds to Aura’s expanding South East Queensland pipeline, which includes villages in various stages of development across Brisbane, the Sunshine Coast, Gold Coast and Toowoomba.
