Construction of a $120 million retirement living resort project at Merewether Golf Club could start as early as mid-next year following its approval by the Hunter and Central Coast Regional Planning Panel.
The joint venture between ThirdAge and the club will be known as The Merewether. It will be home to 148 luxury one, two, and three bedroom apartments in four, six-storey complexes, and includes 16 penthouses with rooftop spa terraces overlooking the golf course.
ThirdAge director, Luke Berry welcomed the decision which will benefit the club and community, and explained that the project will bring a new style of much needed retirement living to inner Newcastle. The resort style community will feature a lap pool, cinema, gym, workshop, communal kitchen, and craft rooms. The golf club and community members will benefit from a new clubhouse, restaurant facilities, sports bar, and a wellness centre for its members and apartment residents.
ThirdAge will soon call for construction tenders and hopes to have residents in their new homes by mid-2024. Merewether Golf Club is providing a 99-year lease of the development land, with President, Phil Merrigan explaining that the project will help secure the club’s long-term financial future, and allows Merewether Golf Club to remain accessible for members, community golfers, and visitors to the region to enjoy.
“This project delivers funding to support significant investment in the golf course and the Club’s infrastructure and facilities. We have been able to realise our vision of a world class golfing facility and retirement living precinct without having to reduce the size of the course,” Merrigan said.
The panel approved concept plans and issued a site compatibility certificate for the project in May, 2020. This allowed ThirdAge to submit a development application (DA) to the City of Newcastle, where council reviewed the DA and recommended the project be approved by the panel. Club members endorsed the project back in 2018.
On October 20 this year, ThirdAge hosted a ‘Future of Retirement in the Hunter’ webinar. Targeted to over 55s, the webinar was a first of its kind and was attended by 600 participants. The session covered topical themes such as the costs involved in moving into an over-55s development, DMF, pension, investment, the comparison of upgrading an existing home, non-invasive technology and how it’s evolved, everything you need to know regarding the process of buying and selling, how to harness brand trust in community, and the connection to community.
“The perception of the over-55s category is no longer a nursing home environment. People expect more, they want more and they’re searching for better lifestyle options, resort-style living, non-invasive technology, and a sense of community,” explains Berry.
Whilst local downsizers, particularly members of Merewether Golf Club are leading the charge on enquiries, ThirdAge is also receiving a large number of enquiries from Sydneysiders looking to retire in a picturesque setting away from the city. With so much choice on offer for over-55s, ThirdAge recognises that property located in premium locations – particularly those that are still accessible to Sydney should a visit be required – yet seem truly a world away in terms of proximity to nature and to the coast, will drive demand.
ThirdAge, a division of Sydney-based developer Third.i, will manage the apartments. Third.i has successfully delivered large-scale residential projects in Sydney and Newcastle. The latter includes projects in the West, Eaton on Union, and Stella on Hannell apartments in Wickham. The group currently has a development pipeline worth more than $2.5 billion.
For more information, visit www.thirdagevillages.com.au