In the record time of just a few weeks from Tony Massaro of PwC’s Real Estate Advisory team releasing the Information Memorandum, Living Choice signed the contract to buy the 91 Independent Living apartments and a boutique 66-bed Residential Aged Care Facility project from Zhiva Living.
Recently approved, the DA was a four-year project for veteran retirement village project developer Nick Reid and Christo Winters, who first worked together at Sakkara building the award winning The Landings village in Sydney.
‘Living Choice Dural’ will be the company’s third retirement community in the region, adding to Living Choice Glenhaven in the Hills Shire and Living Choice Galston in the Hornsby Shire, which is scheduled to start construction this year.
The Group Director, Ian Tregoning, says “At Living Choice Glenhaven, there is a waiting list for more than 140 villas and most are from the local area. Living Choice is all about offering “choice” and we’ll be offering apartments at Dural, which are set to take luxury retirement living to another level. The signature designs and leisure facilities will be exceptional.”
Living Choice is the country’s largest private owner/operator retirement village group.
Its portfolio currently includes 10 operating retirement villages in NSW, QLD and SA plus two further retirement communities that will commence construction shortly – Living Choice Parkwood, comprising 200 apartments at Parkwood Golf Course on the Gold Coast and Living Choice Galston in Hornsby, where 40 villas and 48 apartments are planned. Dural is their 13th village project.
Hobbs and Tregoning also have their first land lease development in its early stage on the NSW Central Coast.
Their business journey began in 1993 when they established Eureka Hotels, now titled EDP. They have 17 licensed venues and 11 retail liquor outlets across South Australia and Queensland.
Their Residential Communities division is also growing rapidly with 18 apartments and 10 terrace homes completed in Sunshine Cove, Maroochydore and further terrace homes under construction. A 900-lot master-planned residential community is also on the drawing board for Palmview on the Sunshine Coast.