Stockland’s 140-unit Shine Birtinya retirement village takes four years to sell out

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Stockland first opened its Shine Birtinya vertical retirement village in Kawana Waters on the Sunshine Coast, QLD, in May 2018.

It has now sold the final apartment in the 140-unit village in the days before the ASX-listed property developer finalised the sale of its Retirement Living business to global investment firm EQT Infrastructure.

Callum Ross, Chief of Development at Stockland Retirement Living, said Shine Birtinya was built in two stages which were completed in 2018 when the first residents moved in.

“The most popular of the eight villa designs available was the two-bedroom, two-bathroom plus study ‘Daydream’ design. This was followed by the two-bedroom, two-bathroom ‘Stradbroke’ design,” he said.

Shine Birtinya won the Excellence in Design award and Excellence in Presentation award at the 2019 Property Council of Australia’s Queensland Retail Property of the Year Awards. It is one of the first retirement villages to achieve 4 Star certifications under the Design & As Built tool, which aims to maximise sustainability through design and construction elements in new developments.

Stockland CEO Tarun Gupta said, when announcing the sale of its Retirement Living division, that it was delivering just a 3% cash profit.