Love Ageing

Aura lodges DA for $30M 78-unit retirement village with Toowoomba Golf Club: special lease deal

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As we covered here, Tim Russell and Mark Taylor’s village venture signed a memorandum of understanding with the Club last year.

“The deal with Aura is a great outcome for the Club as it has leased, not sold, the land to Aura and will receive a development rights payment upfront. Aura will also pay the club an ongoing ground rent for the duration of its management of the retirement village,” Toowoomba Golf Club President Mark Mahony said.

Aura wants to build three buildings, designed by Cox Architecture, ranging from two to four storeys on the existing overflow car park and golf buggy storage area at the Club.

Launched in September 2016, 19 months ago, they now have eight projects in development and looking for more, particularly in NSW.

Across the first two projects coming out of the ground (Corinda and Maroochydore) they are selling five new homes a month.