Bolton Clarke has paid $10.2m for the Coorparoo RSL site and will build a vertical retirement village

A long-term RSL owned site in Brisbane’s inner south has been sold and the new owners are eyeing a high-rise future with a twist.

A LEADING not-for-profit group has snapped up a prime inner south development site which they have earmarked for a vertical retirement village and aged care community.

Bolton Clarke paid $10.279m for the site at 20 Harries Rd, Coorparoo, which has been occupied by the Coorparoo RSL and Community Club for almost 60 years. The deal was struck with a two-year leaseback.

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Design work on Bolton Clarke’s potential 16-storey development will start early this year.

Initial plans include 100 two and three-bedroom independent living apartments, 30 assisted living apartments, a 60-bed residential aged care community and an At Home Support hub.

There are also plans for a resident-only library and lounge, gym, pool, art and craft studio, private dining room and rooftop sky terrace with sweeping city views and entertaining facilities.

Bolton Clarke general manager property development James Mantis said the project represented a new kind of integrated lifestyle offering for Coorparoo’s fast growing over-65 population.

An artist's impression of the possible redevelopment of Coorparoo RSL.

“As the needs and circumstances of each resident change, residents will be able to transition to alternate accommodation or access additional care and support services within the development, ensuring they can age in place as part of the vibrant Coorparoo community and enjoy life at the same address for as long as possible,” he said.

Bolton Clarke formed in 2015 after the merging of RSL CARE and the Royal District Nursing Service.

The 2693sq m corner site has 105m of street frontage and is opposite Coorparoo Square.

It was marketed by Ray White Commercial’s Tom Barr and Ray White Special Projects Qld’s Matthew Fritzsche on behalf of the Returned & Services League of Australia, Queensland Branch, Coorparoo & District Sub Branch Inc which has occupied the site since 1962.

Ray White's Tom Barr and Matthew Fritzsche at Coorparoo RSL and Community Club.

Mr Barr said the campaign attracted 92 inquiries from local and interstate private and institutional groups and almost a dozen offers.

“We received competitive bids from both investors and developers. The developers were primarily contemplating vertical retirement living/aged care and/or residential apartments on the site,” he said.

Mr Barr said Ray White Commercial was seeking potential new sites for RSL Coorparoo.

Mr Fritzsche said the location was 3km to the Brisbane CBD and within walking distance to public transport.

“The upcoming Eastern Transitway really appealed with the project delivering targeted bus priority measures to improve safety, reliability and capacity along Old Cleveland Road, from Coorparoo to Carindale,” he said.