Aura Holdings’ financial offer to golf club outlined in new partnership
Golf club backs retirement living deal to secure future
- Partnership struck: Aura to develop 76 apartments on golf club land
- Member vote: Proposal to be decided in July
- Financial boost: Deal aims to secure club’s long-term viability
- Trend growing: Golf courses unlocking land for retirement living
Ashgrove Golf Club, located in The Gap 8km from Brisbane’s CBD, has struck a partnership with the retirement village operator to develop a community on part of its land.
The Club says the project represents a significant opportunity to secure its long-term financial future and it has presented the financial details to members, who will vote on the proposal on 21 July.
Aura Holdings lodged a development application with Brisbane City Council on Wednesday, 29 April, for 76 independent living apartments across two 10-storey buildings on 7145sq m on land on a 99-year lease.
The amount Aura Holdings has agreed to pay the Club is detailed below.
The Club states the Aura Holdings’ proposal will:
- Provide long-term financial security while keeping golf affordable;
- Enhance, improve, and protect a valuable community asset for future generations;
- Help the Club retain existing members and attract new ones; and
- Preserve green space in the Ashgrove/The Gap community.
Founded in 2016 by Tim Russell and Mark Taylor and led by Sean Graham as CEO, Aura Holdings, specialises in developing retirement apartments and community facilities in highly sought-after, infill locations.
The operator already has retirement villages being built or established at McLeod Country Golf Club, Indooroopilly Golf Club and Toowoomba Golf Club.
Sean told The Weekly SOURCE: “Ashgrove is a great site in an area severely lacking age-appropriate accommodation – exciting to get to this next stage with it. It is one of the sites in our near term pipeline – plenty to keep us busy at the moment!”
The SOURCE reported in February, Aura Holdings also has approval for its eighth retirement village in Milton in Brisbane’s inner west.
