105 retirement units proposed in suburb where apartments fetch $4.3M
- $200m play: Kevin Ryan keeps buying in Rose Bay
- 105 apartments: Luxury seniors housing planned
- Resort living: Pool, spa, cinema, wine cellar and concierge
- Next chapter: Construction targeted within 18 months
Waterbrook Retirement Lifestyle Resorts Managing Director Kevin Ryan has spent a further $27 million acquiring property in Rose Bay, 7km east of Sydney’s CBD.
The Weekly SOURCE reported that Waterbrook had purchased 12 homes in a line marketed by Colliers National Director Guillaume Volz and Brad Caldwell-Eyles and Julian Hasemer of 1st City in December last year.
Kevin told The Australian on Friday (5 June) that he had spent around $200 million in all, buying more homes in the area.
Residential apartments in Rose Bay typically sell for between $1.9 million and $4.3 million. Given Waterbrook has spent more than $200 million assembling the site, its units are also expected to command premium prices.
Waterbrook is planning to build around 105 apartments on the land which is bounded by Wilberforce Avenue and Dover Road, Rose Bay.
“We plan to start construction within 18 months,” said Kevin, adding the development will be “amazing”.
He is currently working through the development application, with the project to include 105 two- and three-bedroom apartments over eight levels.
The development will also include a 24-hour concierge, heated indoor pool, wine cellar, piano bar, spa, sauna, gymnasium, arts and crafts studio, cinema, hair studio and beautician.
Kevin has previously developed premium villages in Sydney’s Greenwich and Yowie Bay, which he has since sold. His $300 million, 17-hectare Waterbrook Retirement Lifestyle Resort (formerly Our Lady of the Sacred Heart School) in Bowral in the NSW Southern Highlands opened in December last year.
The Waterbrook Bowral development was released off-the-plan in 2020 and features a range of amenities including restaurants, piano and coffee bars, private entertaining spaces, wine tasting and wine storage rooms, wellness and Pilates studios, an indoor swimming pool, spa, sauna and steam room, art and craft rooms, a library, theatre, cinema, beauty and massage services.
