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Aura Holdings’ retirement living projects power ahead despite Covid-19

Southeast Queensland retirement living developer and operator, Aura Holdings, is powering ahead with major development projects, defying the doom and gloom surrounding the Covid-19 crisis.

Aura Holdings’ retirement living projects power ahead despite Covid-19

Thursday, 11 June 2020

Southeast Queensland retirement living developer and operator, Aura Holdings, is powering ahead with major development projects, defying the doom and gloom surrounding the Covid-19 crisis.

Aura Holdings was established in 2016 by Brisbane-based directors Tim Russell and Mark Taylor, who have more than 35 years’ combined experience in the sector.

The group has six ‘vertical’ retirement villages in various stages of development in Brisbane, Toowoomba, and the Gold and Sunshine Coasts. In the past 12 months, Aura has committed around $200 million to construction projects. The four projects underway or due to start within weeks will create a welcome boost to the construction industry.

The directors said interest had continued to be high in their brand of fair and transparent retirement living despite the pandemic with retirees becoming aware of the benefits of living in a supportive and safe community during their recent self-isolation.

Mr Russell said the Covid-19 crisis had exposed the vulnerabilities many older Australians faced living in their large, high-maintenance family homes. “Our residents have expressed their great satisfaction and appreciation of the support they received during the health crisis while many were able to live comfortably with their immediate needs met in their own apartments supported by their village managers, other staff and fellow residents,’’ he said.

“At our villages, all the maintenance will be taken care of so residents can just enjoy their independent, relaxed lifestyle with support on hand if needed.’’

Aura Holdings’ communities are pet-friendly and offer a range of community facilities.

Current building projects underway or starting within weeks include:

The Pavilion North Kirra at 3 Lang Street: The first stage of North Kirra’s first retirement living community is under construction with 75 per cent of apartments and penthouses sold. Stage two has been fast-tracked and is awaiting council approval. Since March, deposits have been received on $44.1 million worth of apartments. Stage one, with stunning ocean views, is being built by Woollams Construction and due for completion in 2021.

Somerset Indooroopilly, 293 Meiers Road: Woollam will begin construction next month on the much-anticipated retirement village within the prestigious Indooroopilly Golf Course. Since January, 40 per cent of the luxurious apartments in the first stage have sold.  It is a two-stage development.

Kingsford Terrace Corinda, 260 Cliveden Avenue: Stage three is under construction for the Mitchell building with its 10 spacious apartments – already nine have sold. Construction by Hutchinson Builders is due to be completed early 2021. O’Neill Architecture are working on the masterplan for further stages on the Corinda site.

The Atrium Lutwyche, 15 High Street: Construction was completed early this year. The first residents have moved into the 59 chic apartments on Brisbane’s inner northside with stunning city views. This is a one-stage development built by McNab.

The Avenue Maroochydore, 32 Baden Powell Street: The final stage is under construction and due for completion at the end of the year. Stage one opened mid-2019. An average sale of one apartment a week has continued during the Covid crisis.

The Ninth Middle Ridge, Toowoomba Golf Club, 235 Rowbotham Street, Middle Ridge: Preliminary works continued during the Covid crisis providing vital employment for local contractors. Major construction will begin this month with Toowoomba-founded company McNab. Eighty-five apartments built within the Toowoomba Golf Course will be offered in the one-stage development.

For more information, please contact Aura Holdings media on info@auraholdings.com.au / phone 07 3397 2930

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