A new $60 million-plus land lease community has been proposed for Gympie, QLD, by a Sunshine Coast-based developer.
McGovern Developments, whose owners built and formerly operated a premium Maroochydore holiday park now owned by Ingenia, has lodged a DA for a 153-home community at a site near central Gympie, including two-bedroom homes and a community centre.
Brothers Will and Bernie McGovern have a family history in retirement living, with their father having originally built and operated the Buderim Gardens retirement village now owned by Lendlease.
According to Bernie (pictured), the new village will bring much-needed seniors accommodation to the Gympie area.
“We think Gympie’s missing out on that retirement village or over-50s lifestyle village market. Typically, Hervey Bay takes up a big part of it, Bundaberg, those kinds of regions. We think Gympie’s more than a mature enough city to have one of this scale,” he told The Weekly SOURCE.
“It’s got extremely low vacancy rates in the rental market, and the housing market is very tightly held as well, so it’s quite hard for families to get into the market there, but these retirees downsizing would bring houses back into that pool.”
Homes are expected to sell for between $450,000 and $550,000.
