Retirement village gallops into Doomben Racecourse
Developer Lendlease has announced it has entered into a development agreement with Brisbane Racing Club to develop a retirement and aged care precinct in Ascot.
To be developed over five stages, the two-hectare development overlooking Doomben Racecourse will include 300 independent living units and 108 full service high-care aged beds.
It will also have resort-style facilities including a cafe, restaurant, and a new bowls club.
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Lendlease’s Retirement Living managing director Tony Randello says the business was attracted to the site’s metropolitan location, which is within seven kilometres of the Brisbane CBD, and in proximity to Royal Queensland Golf Course, Hamilton Wharf, Racecourse Road and the Brisbane International Airport.
“The site provides an opportunity to develop a market leading, intergenerational retirement and aged care community adjacent to a renowned racecourse,” he says.
“We’re excited to create a connected community where residents will have the utmost choice and opportunity to pursue an active lifestyle, being close to all essential health and community services, shopping and sporting facilities.
“We look forward to working in close consultation with BRC, local authorities and the local community to develop the master plan and respond to the ageing population of greater Brisbane.”
Brisbane Racing Club chairman Neville Bell says the project is another important step in the BRC’s $1.5 billion master plan for the site.
“This development agreement represents the next phase of the BRC Master Plan over our two racecourses,” he says.
“While we have been active in transforming the Eagle Farm precinct, this is the first project on the Doomben side of our Club.
“This partnership with Lendlease is part of the BRC’s strategy to develop our non-core land. This is producing a diversified business model that will future-proof the BRC and help to fund new racing and patron facilities.”
Lendlease participated in an expression of interest sales process to acquire the site, which is a 99-leasehold interest.
Lendlease has twelve retirement villages in Queensland, including two in Brisbane — Keperra Sanctuary at Keperra and The Terraces at Forest Lake.
This article from the Courier Mail first appeared as “Lendlease to develop aged care facility with Brisbane Racing Club”.