Living Choice plans $100m over-50s resort in Murray Bridge
A $100m over-50s resort will be built on part of the old Murray Bridge racecourse site under new plans drawn up by a major retirement village operator.
Retirement village operator Living Choice will develop a $100m over-50s resort in Murray Bridge after acquiring a slice of land within the Newbridge housing project currently under construction at the town’s former racecourse site.
The development will include two and three bedroom homes and a country club with gym, cinema, indoor pool, BBQ and activity areas and caravan storage facilities.
Living Choice has agreed to take over 22.3ha of land at the southern end of the Newbridge development, next to the Murray Bridge golf course, from housing developer Burke Urban.
Civil construction works are expected to commence early next year, subject to planning approvals.
Living Choice owners Ian Tregoning and Graham Hobbs are prominent investors in the region, with recent projects including the $45m redevelopment of the Bridgeport Hotel in the centre of Murray Bridge.
They operate 13 retirement villages across three states, and are currently developing their first over-50s lifestyle resort at Mount Barker.
Mr Tregoning said the over-50s lifestyle model had experienced “huge growth” in recent years, and the Murray Bridge development would be modelled on the Mount Barker project, with a wide range of design and price options on offer.
“At Living Choice Mount Barker we are building 215 homes with a choice of 13 two and three-bedroom designs,” he said.
“It will be a secure, gated community offering a wide range of facilities, including a country club and recreation centre with an indoor heated pool and gymnasium. We intend to bring the same standard of over-50s living to Murray Bridge.
“Murray Bridge is a fast-growing town and we expect to attract over-50s looking for a low-maintenance lifestyle change.”
More than 90 allotments within the broader Newbridge development have been sold across the first four land releases, with more than 30 homes currently under construction or complete.
Burke Urban managing director Kym Burke said the fifth stage land release had just been launched, and he was confident of selling off all remaining allotments at the northern end of the 45ha site over the next 12 to 18 months.
“Burke Urban are committed to Newbridge and will deliver on our promises in relation to construction and landscaping, and will honour our commitments to design management until the last home in this sector is built,” he said.
“We are excited to welcome Living Choice to Newbridge and are confident they will deliver the high quality standard of community-focused living that we intend to establish. We believe this will be a well-regarded addition to Newbridge and the broader Murray Bridge community.”
Meanwhile work on a $2m upgrade to the Murray Bridge Golf Club is well under way, as part of a plan to transform the course from a par 68 to par 71 championship facility.
Two new fairways, designed by golf course architect Neil Crafter, are currently under construction, weaving through the centre of the Newbridge neighbourhood.
Add your comment to this story
Collapse of builders is a wake-up call on private credit
Private credit fund managers have been hit by developer collapses and just as there are riskier and safer stocks on the sharemarket, so too is the risk profile of private credit funds.
Aussie tech needs an attitude adjustment, not subsidies: Cannon-Brookes
Mike Cannon-Brookes says Australian tech companies need governments to ‘just get out of the way’, after the industry was left empty-handed in the federal budget.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout