Glen Browne’s Reside Communities hungry for growth

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As first published here last August, ex-RetireAustralia executive Glen Browne’s Reside Communities is expecting approval of their five-tower/348-apartment plus 15 villa development approval this month from Gold Coast Council. Earth moving has commenced.

The 3.4ha site on Hope Island, 19km north of Surfers Paradise, will be built out over five years.

Browne launched Reside Communities 14 months ago (March 2019) and is backed by Brisbane-based GreenFort Capital and $11B Hong Kong property fund Gaw Capital Partners, with the express aim of building a “boutique” $600M, 1500-title retirement living portfolio.

Reside has acquired two villages from Michael Fallon’s Live Life Group, Samford Grove (17km north of Brisbane) with 27 built ILUs and a DA approved for 120 ILUs and ILAs, and the 120 ILU Brookland village at Robertson (12km south of Brisbane CBD).

They have also established a co-development strategy with Pacific Golf Club (14km east of Brisbane) to build up to 200 ILUs.