Watermark Living’s new retirement village Newgreens Chatswood, 10km north of Sydney’s CBD, is promising to take retirement living to a new level.
The property developer, which manages Watermark Freshwater, 17km northeast of Sydney’s CBD, and Pariter (a subsidiary of infrastructure investment business Plenary Group), have partnered with Chatswood Golf Club to pioneer a new model of retirement residences, with a vision of being sustainable in design and functionality.
“Residents will never receive a power bill for their home – we have enough solar energy panels on site to generate 100% of the electricity for every apartment,” said Will Tynan, Watermark Living director.
“There will be electric vehicle charging stations. Retirees are pretty discerning and want to reduce their carbon footprint.
“There’s quite a lot of interest.”
Dr Chris Watt, Co-Founder of Watermark Living, said Watermark Residences will have one of the lowest Deferred Management Fees in the sector at 25% with residents keeping all capital gains.
After seven years of planning, work will start next month to build 106 two-, three- and four-bedroom apartments on the existing car park area of Chatswood Golf Club, which will feature a new clubhouse and a 12-hole golf course when it reopens.
Watermark Residences expects to be open in the third quarter of 2024.
