Developed over five stages, the two-hectare development in Ascot overlooking Doomben racecourse will include 300 independent living units, 108 high-care aged beds and facilities including a café, restaurant and bowls club.
Tony Randello, Managing Director of Lendlease’s Retirement Living business, said the operator was attracted to the site’s metropolitan location 7km from the Brisbane CBD and close to the Royal Queensland Golf Course, Hamilton Wharf, Racecourse Road and the Brisbane International Airport.
The BRC is currently undertaking a $1.5 billion Master Plan that includes developing its unused land.
“This is producing a diversified business model that will future-proof the BRC and help to fund new racing and patron facilities,” Chairman Neville Bell said.
Lendlease has a 99-leasehold interest on the site which will join their 12 other retirement villages in Queensland, including two in Brisbane.