RetireAustralia Archives - Tarragindi News

The Green Tarragindi Operator Leads Charge on 1,100 Retirement Dwellings

Leading retirement village operator RetireAustralia, the company behind The Green Tarragindi, has unveiled bold plans to construct over 1,100 new senior living residences across key sites in Queensland and New South Wales over the next five years.

Read: The Green Retirement Site Adjoining Tarragindi Bowls Club To Open in Early 2023

The plan marks RetireAustralia’s response to rapidly rising demand for senior living communities. After opening 214 new residences across their portfolio last year, the company plans to develop thousands of additional units by 2028.

According to RetireAustralia’s Chief Executive Brett Robinson, the retirement sector has reached a critical juncture as more older Australians seek to live in vibrant retirement villages rather than traditional aged care facilities after the Aged Care Royal Commission exposed alleged systemic failings.

Photo credit: The Green Tarragindi/Facebook

Major projects include The Verge Stage 3 retrofit in Queensland, adding 62 apartments and a 10-suite care hub to open in 2024, alongside new 42-unit Tarragal Glen unveiled in NSW for 2025.

Two concurrent 2025-2026 Queensland launches will establish Arcadia’s 159 premium apartments with a 10-suite clinic, as well as 146 residences and 10-suite facility at Cleveland Manor. A 229-unit Lutwyche and 52-apartment Lane Cove also await openings. A 100-unit Queensland site is currently assessing locations.

Artist’s impression of The Verge at Burleigh (Photo credit: retireaustralia.com.au)

According to Dr Robinson, there is a severe shortage within Australia of senior housing that enables older Australians to downsize while retaining independence and care access.

He highlighted that 22 out of RetireAustralia’s 28 communities currently have waiting lists, with an over 93 per cent occupancy rate nationwide. He estimated the country requires between 10,000 to 11,000 new retirement dwellings annually.

However, he emphasised that the 2022 census figures indicate only half this number are being built. He noted that with an ageing population and increasing downsizing demand, there is an urgent need to address the undersupply through expanding retirement village projects.

Read: Infratil and NZ Super Say May Consider Selling RetireAustralia

Moreover, Dr Robinson stated such purpose-built senior communities will play a vital role housing elderly Australians amidst the ongoing national housing crisis.

Published 30-November-2023

Infratil and NZ Super Say May Consider Selling RetireAustralia

Construction at RetireAustralia’s ‘The Green Tarragindi’ | Photo Credit: RetirementAustralia / Facebook

Infratil and NZ Super Fund have announced that they will undertake a strategic review of their ownership in RetireAustralia which may involve an outright sale. The retirement village operator is currently redeveloping the former Tarragindi Bowls Club site into a retirement facility to be called The Green Tarragindi.

In a statement, Jason Boyes, Infratil Chief Executive, said that the company has performed “extremely well in very trying times“. And with the business performing strongly, Infratil feels that now is the right time to assess the scale of their investment in RetireAustralia and whether there is a higher value investor who would be willing “to support delivering the business’s strategic plan”.

Photo Credit: RetirementAustralia / Facebook

“We continually assess the shape and structure of our portfolio to ensure it delivers the best long-term value to New Zealanders. With a strong management team in place and the business performing well, it is time to consider what ownership structure is best for RetireAustralia and for us” NZ Super Fund Senior Advisor Real Estate Toby Selman said.

Infratil and NZ Super Fund acquired RetireAustralia in 2014 for $640 million with each owning a 50 per cent stake in the company. Over the coming months, both companies will engage with market participants and study their proposals which may include a sale.

Reports say that among those who have already expressed an interest was private equity company Brookfield which acquired Aveo in 2019 for $1.3 billion and was the second highest bidder in the Stockland Retirement Living auction held recently.

RetireAustralia currently owns 28 retirement villages in NSW, SA and Qld. New units are currently being developed at The Rise at Wood Glen and Forresters Beach in NSW and at The Verge and The Green in Queensland.

Late last year, Infratil reported that RetireAustralia’s underlying profit rose 71 per cent over the six month period between 2020 and 2021. Given this strong performance, RetireAustralia’s total sales for FY2022 is projected to between 480 and 500 units compared to 343 the previous year.

Revival of the Tarragindi Bowls Club Included in The Green

The Green, the residential retirement facility set for construction in Tarragindi, also includes plans to ‘revive’ the Tarragindi Bowls Club.

In 2018, the Tarragindi Bowls Club moved to the Salisbury Sports and Community Club because of the planned redevelopment. In August 2021, RetireAustralia, the developer behind the retirement village project, received approval from the Queensland Planning and Environment Court to bring back the Tarragindi Bowls Club as a full competition bowling green.

RetireAustralia plans to put a championship quality 10-rink bowling facility with a new clubhouse, cafe, and car parking spaces for visitors. The site next to a 94-apartment complex will include large green spaces for the children to play and for the grown-ups to establish a productive garden.

Brett Robinson, the CEO of Retire Australia, said that The Green will be “a landmark development with a shared community” alongside the Yeronga Services and Community Club. The club’s officials believe that the redevelopment will help Tarragindi Bowls Club diversify and survive with new revenue streams amid the changing needs of the locals.

“All residents of The Green also enjoy free lifetime membership to the Tarragindi Bowls Club, which has been proudly brought back to life as the heart of this thriving community and neighbourhood,” RetireAustralia stated.

“Open and accessible to all, the Club is the go-to place for your daily caffeine fix, sunset drinks, leisurely meals or a game on the championship-quality green.”

The Green’s construction timeline has not yet been detailed but it is projected to take place for 18 months.

Follow the developments via the Tarragindi Bowl’s Club Facebook or the official site for the retirement village.

The Green, a New Retirement Village in Tarragindi, Ready for Construction

Following a simple sod-turning ceremony on Cracknell Road in Tarragindi, construction will soon begin for The Green, a new retirement village that will stand next to the Tarragindi Bowls Club and clubhouse.

A project hatched by Yeronga Services and Community Club and RetireAustralia, the $80-million development of an expansive and beautiful retirement village is projected to start in late 2021 and will take 18 months to finish. However, expressions of interest have been opened as well.

Pictured left to right Hutchinson Builders Chairman Scott Hutchinson, Yeronga Services Club General Manager Nathan Young, Brisbane City Councillor and Deputy Mayor Cr Krista Adams and RetireAustralia CEO Brett Robinson.Photo Credit: RetirementAustralia/Facebook

Hutchinson Builders will develop The Green as a community asset that will have 94 apartments for independent living, a private cinema, indoor and outdoor gyms, and a library. Its residents will have access to the bowling green next door.

At least 70 percent of the retirement site will be an open space, where residents may also enjoy a secured and landscaped park with common areas for gardening, barbecuing, and a playground for the grandkids who will come to visit their grandparents.

Photo Credit: Retirement Australia/Google Maps

“The Green, like all our villages, is designed to offer choice, support, social connection and peace of mind,” RetireAustralia CEO Brett Robinson said. “It will be a thriving community with care at its heart.”

Scott Hutchinson, the chairman of Hutchinson Builders, said that their workers have been eager to get started on building The Green since the site has been passive for a very long time. Nathan Young, the general manager of Yeronga Services and Community Club, believes that this retirement site will be a huge drawcard for the Tarragindi community.

For updates on the development, follow RetireAustralia’s Facebook page.

Residents Dismayed Over Approved Tarragindi Bowls Retirement Village

Photo Credit: RetireAustralia

The fight to save Tarragindi Bowls Club from being redeveloped into a retirement village is over and protesting residents, particularly ones under the Tarragindi Resident’s Alliance, have been left highly disappointed now that the Planning and Environment Court has given the go ahead for the project.

“A very sad day for my community and home . Despite objections by virtually the entire suburb , the council has approved a multi storey 100 room apartment complex amongst the homes of Tarragindi,” one resident wrote on Facebook.

In 2018, residents had lodged an appeal before Brisbane’s Planning and Environment Court against Brisbane City Council and RetireAustralia following BCC’s approval of the $80-million project.

Following the court’s decision, the Tarragindi Resident’s Alliance thanked the brave families who put their financial and emotional resources to help take the fight to court.

They also reminded the community “to vote for someone that will support the community expectations in regards to development.”

The alliance believes the only way to stop more inappropriate development is to vote for a council that does not disregard the Town Plan and the very people they represent.

Reasons for Locals’ Objections

Locals were opposing the planned development to protect the character and integrity of the suburb. The Tarragindi Resident’s Alliance noted that the scope and height of the planned development is out of proportion to the surrounding landscape.

RetireAustralia, in partnership with Yeronga Services and Community Club, initially proposed to build a huge 6-storey L-shaped apartment building containing 95 units for retirees.

When the Council asked them to adjust their plans in 2017, they reduced the number of storeys to five. The development application was revised and got an approval from BCC in January 2018.

Locals are not convinced that the development is suitable for Tarragindi’s low-density residential area and character housing, the main reason why many people have invested heavily in the area.

What’s Next for Tarragindi Bowls Club

According to RetireAustralia, the project will see the return of the Tarragindi Bowls Club to the site, following its closure in December 2017.

The new bowls club will feature a new, 10-rink championship-quality, turf bowling green, co-located with the retirement community, as well as a clubhouse and café.

RetireAustralia believes the co-location of the club with the new retirement community provides a convenient recreational and social option for their future residents and the Tarragindi community.

Although the Planning and Environment Court approved the retirement village in Tarragindi, it is still subject to changes.

These amendments will be confined to the northernmost part of the development and some to the western boundary, according to town planner Christopher Buckley.

Based on the agreed amendments, RetireAustralia should also increase the setbacks of the bowling green, acoustic window treatments and changes to landscaping. Other small changes include removing a footpath and moving a children’s play area.

RetireAustralia senior development manager Angus Spencer is confident that the project would revitalise the club.

A construction timeline has not yet been set, and RetireAustralia and YSCC look forward to providing project updates including the start of construction.

Retirement Facility Development In Tarragindi Still A Go

Plans for the development of the Tarragindi retirement facility seems to still be a go despite opposition from the local community. Deputy Mayor Adrian Schrinner has confirmed the approval of the project after an 18-month assessment period.

Three separate appeals were lodged at the Brisbane’s Planning and Environment court against the Brisbane City Council and RetireAustralia earlier this year. The locals were firm in their appeal that the development should not be given a green light as it shows a conflict with the City Planning.

Read: Residents Launch Appeals Against The Approved Tarragindi Bowls Club Retirement Village Development

The retirement facility will feature 94 independent living village units, a new clubhouse, and other facilities. Locals say that the development plans do not meet the requirements of the community when it comes to the height, scale, and form expectations.

However, Cr Shrinner said that residents can establish properties up to 9.5 metres according to the City Plan 2014.

Lord Mayor Graham Quirk demanded for a double consultation period for amendments on sports and recreation land. However, the Tarragindi Residents’ Association said that it is too late for this and they are hoping that one of their three appeals would still succeed to stop the development.

Residents Launch Appeals Against the Approved Tarragindi Bowls Club Retirement Village Development

Residents are appealing the approved aged care facility development at the Tarragindi Bowls Club.

Since the Council has given the green light to RetireAustralia ’s development proposal for an aged care facility at the Tarragindi Bowls Club, residents have considered taking legal actions to stop the said development.

Read: Residents Consider Legal Action To Stop Approved Aged-Care Facility Development at the Tarragindi Bowls Club

Three separate appeals have been lodged in Brisbane’s Planning and Environment Court against Brisbane City Council and RetireAustralia on 28 February and 1 March 2018 for the plans to build the controversial $80 million retirement village development at the club.

The development includes six-storey 95 retirement village units, a new clubhouse, and other community facilities.

In the appeals filed by Urban Planners Queensland ( Anthony Greer; Barry and Judith White) and Catherine and Jeffrey Hume, the appellants emphasized that the development should be refused as it is in serious conflict with the City Planning.

The appellants cited that the development is not consistent with the community’s height, scale, and form expectations.

Residents are concerned about the density and the number of storeys on the proposed development plans since the Council’s incentives relaxed the height limits on aged care facilities.

They also argued that the proposed development does not meet the physical, cultural, or social needs of the local or wider community and that it fails to protect the land, which is zoned for recreational use.

The assessment of the development plan took 18 months to be completed. Throughout the duration, 1,800 submissions against the development were made by the residents.

Despite the objections to the proposed development, the Council said that the development will be a win for the community as it will help in upgrading the recreational facilities while providing a place for the retirees.