Somerset Retirement Village, relaxed golf course living by Aura Holdings

The retirement village industry continues to represent an important accommodation option for retirees who are looking for more than just a house in their residential neighbourhood. The potential buyer now has a wide choice of independent living units, serviced apartments with some operators also offering higher levels of care as part of the package. In more recent years, vertical retirement villages have become more popular with developers and operators as it has allowed residents the capacity to live in more cosmopolitan environments than was previously possible. And if you’re like Aura Holdings, you actually get to create a retirement village in the heart of a prestigious golf course only a short drive (pardon the pun) from a regional sized shopping centre, sandstone university, the Brisbane River and of course the CBD and everything that has to offer. Don’t for one minute think that retirees have removed themselves from commerce completely. Many still sit on boards, act as mentors and remain highly engaged…as well as enjoying a round of golf or two.

When was the site acquired?

Aura Holdings signed a lease for 2.53ha land within the Indooroopilly Golf Club in September 2019 after participating in a tender in mid-2017.

How long did it take to get approval and what were the challenges?

In 2004 the Indooroopilly Golf Club embarked on a redevelopment project for a freehold residential complex with around 300 apartments which was strongly opposed by Brisbane City Council. In 2014 Aura Holdings Director Tim Russell, then RetireAustralia CEO, proposed a retirement village for the site. After Tim left RetireAustralia, discussions continued but the proposal did not proceed. In 2017 the Golf Club sought tenders and Aura Holdings’ proposal for a development with 215 apartments was selected. Following community consultation and market research showing retirees preferred larger apartments, Aura reduced the total number of total apartments to 168 – 80 in stage one and 88 in stage two.  The initial development application was lodged in August 2018 with the lease premium paid to the Club post the Development Approval.

Sections of the suburb of Indooroopilly have experienced flooding in previous severe weather, however, the site of the village, and the level of its basement, have not flooded in any recorded flood events. During early works preceding official construction, Aura undertook roadworks to include an emergency access road to the village and raised the existing dam wall by 1m and redirected flood flow to withstand a Q200 flooding event.  

When was the first sod turned?

The soil turning ceremony was held on July 9, 2020, and conducted by Indooroopilly Golf Club President Mike Hume, representatives from Aura Holdings, Woollam Constructions and future resident Lucy Ward.

Members of the Indooroopilly Golf Club’s Board of Directors and current and past Club Presidents attended to witness the event. The group travelled to the construction site via a convoy of golf buggies from the clubhouse.

How big will the project be?

Stage one (currently under construction) will provide 80 two and three-bedroom apartments and four luxuriously-appointed penthouses. Stage two will have 88 apartments and penthouses. The two-stage development will be built across eight low-rise buildings. The retirement village will have a range of high-end community facilities including a pool and spa, gymnasium, wine room, library, private dining room, outdoor barbecue areas, with a hairdresser and consultation suites for allied health professionals.

What makes your project special/unique?

Somerset Indooroopilly is being constructed within the prestigious 36-hole Indooroopilly Golf Club, one of Brisbane’s premier golf courses. Residents of the independent living community will live within the tranquil 130-hectare parkland space, only 7km southwest of the CBD. The course site has been described as “the lungs of Brisbane’’.  

It is Aura Holding’s premium retirement living project, targeting golfers and non-golfers alike who appreciate the high-quality finishes of their spacious apartments that will look out to a peaceful green vista. The majority of buyers have expressed a desire to downsize to a maintenance-free lifestyle within Brisbane’s prestige inner western suburbs where they have always lived. Already 45 per cent of apartments have sold in stage one.

Somerset Indooroopilly was named after the original homestead, Somerset, built around 1900 by district pioneer and horticulturalist Henry Thomas on a site now part of the golf course. Henry Thomas cultivated a number of bougainvillea, his gardens were a tourist attraction and he was known as Mr Bougainvillea.

What is the cheapest apartment that has been sold?

$690,000  

What is the most expensive apartment sold?

Four penthouses in stage one were offered and taken up via private tender from a reserve of $2.5 million per penthouse.

How has this project been influenced by the community?

The development project was led by the Indooroopilly Golf Club with the desire to protect the future financial stability of the club. The project has enhanced the economic viability of the golf club, ensuring this unique green space so close to Brisbane’s CBD will be protected in the future. Aura Holdings has worked cooperatively with the local community to keep them informed of the project and has sought feedback. The community, including club members and local residents, expressed a desire for a retirement living development of this calibre that would allow them to downsize and remain in the area they know and love.

How has this project influenced community?

The Somerset Indooroopilly project has received more positive than negative comments. An extraordinary general meeting of Indooroopilly Golf Club members voted 96.5 per cent in favour of the Aura project. The “softer’’ impact of a retirement village with fewer apartments and with its reduced traffic implications had more appeal to club members and the neighbours. The site was selected to minimise visual impact of the surrounding neighbourhood with a 125m buffer to the nearest neighbour. The design ensures the prestigious neighbouring properties on elevated land retain their current views of the picturesque course and significant landscaping will limit any visual impact.

Has your project won any awards?

Not yet…but I am sure it will in due course.