Oak Tree Group is behind the proposed 72-unit retirement village at Lake Macquarie, NSW, and has purchased the land following its successful Development Application.
This will be Oak Tree’s 30th retirement village.
Originally reported as being by “Grand Hutton Developments”, the $37 million village will be built at Mount Hutton on 1.6 hectares of land adjoining Lake Macquarie Shopping Centre.
According to Shane Nicholson (pictured), Director – Health, Aged Care & Retirement at Commercial Collective, which organised the sale of the land for $7.6 million, the “outstanding” DA was the most valuable in the Lake Macquarie area over the past 12 months.
“The approval by the Hunter & Central Coast Regional Planning Panel shows a significant level of demand for seniors housing in the Lake Macquarie, Newcastle and Greater Hunter catchments,” he said.
