New Zealand infrastructure investment company Infratil’s 2023 Investor Day has revealed that the innovative retirement village operator has plans to build 146 independent living apartments and a 10-bed care hub on a site it has purchased adjacent to its Cleveland Manor Retirement Village (pictured) in Redland, QLD.
RetireAustralia, which Infratil jointly owns with New Zealand Superannuation Fund, also has waitlists at 22 of its 28 retirement villages in QLD, NSW and SA.
“Retire Australia is expecting a strong finish to FY23 with 400 settlements forecast (FY22 experienced higher settlements of 565 units in total (489 resales and 76 developments). This higher number was largely due to high inventory levels available given lower settlements in prior years,” Infratil said in a presentation.
“Construction is expected to complete on four sites in the next 12 months, adding 254 apartments and a 10-bed care hub.”
RetireAustralia has just completed building The Rise Wood Glen, on the NSW Central Coast. In addition, it is:
- Constructing 128 apartments and a 10-bed care hub across Stages 2 and 3 of The Verge in Burleigh on the QLD Gold Coast
- Completing 92 apartments at The Green in Tarragindi, Brisbane.
Infratil will announce its annual results for the period ended 31 March 2023 next week.
