Is this reaffirmation that retirement villages present legitimate value proposition?
The QLD State Parliament has passed new planning legislation that will allow proposals for retirement and residential aged care to be considered for the Gold Coast luxury resort (an hour south of Brisbane – pictured).
As we reported here, since its opening in 1988, Sanctuary Cove has been governed by its own legislation separate from the local council’s City Plan – blocking the potential for retirement village and aged care developments.
Australia’s first five-star gated estate for the ‘well to do’ originally did not want to be perceived as being for ‘old people’ – they could afford to look after themselves. But now they are older (and perhaps alone) and desire the security and support of a village and care environment.
Under the new laws, future planning will continue to be assessed by the State rather than the council, however a development application and consultation with the local community will still be required.
The Gold Coast Bulletin reports that the Government is soon likely to receive a DA with only one suitable site currently available.
It is likely that Aveo will be the operator – as Mulpha (Aveo’s main shareholder) owns Sanctuary Cove.
