Topic - Developments

The Langlee by Mirvac is more competition for traditional retirement village operators

Mar 21 2022 Updated May 3, 2023

Lauren Broomham

1 min read

Retirement is not mentioned in its marketing, yet The Langlee by Mirvac at Waverley, 7km east of Sydney’s CBD, is a prime example of the competition that retirement village operators now face from Build to Rent and other Community Apartment projects (CAPs).

The target market for this over-55s strata development is cashed-up Baby Boomers – the ideal market for the sector.

Mirvac is a thorn in the side of the sector, with its first Build To Rent tower, LIV Indigo, at Sydney Olympic Park, capturing retirees.

“Where luxury living meets lifestyle” is The Langlee’s selling pitch with its 55 apartments selling from $1.65 million to a 145sqm three-bedroom, two-bathroom penthouse at $4.995 million.

The building, which overlooks Waverley Bowling Club, will be ready early next year; a display suite opened on Saturday, and a VIP invitation evening has already taken place. Only six apartments are listed for sale.

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