No holding back Aura Holdings in first-half of 2021
PRESS RELEASE: Monday, 5 July, 2021
The first half of 2021 was a record period for small southeast Queensland retirement living developer and operator, Aura Holdings, who can’t build their upmarket communities fast enough to meet the demand from retirees.
Despite periods of Covid lockdown, Aura Holdings sold 147 apartments (each averaging more than $800,000) in the half-year across its five established or under construction locations in Brisbane, and the Gold and Sunshine Coasts. Construction is soon to begin on its sixth community, The Ninth Middle Ridge, within the Toowoomba Golf Club.
Brisbane-based Aura Holdings was established in 2016 by directors Tim Russell and Mark Taylor (pictured below), who have more than 35 years’ combined experience in the retirement sector.
“Despite all the doom and gloom surrounding the Covid pandemic, Aura Holdings has recorded unprecedented half-year sales,’’ Mr Russell said. “We have had to fast-track development of several projects after this overwhelming demand for our independent-living apartments.’’
The first stage of Aura’s Gold Coast retirement community, The Pavilion North Kirra, sold out off-the-plan with construction not due for completion until October 2021. Stage two is already more than 95 per cent sold with construction yet to start.
Construction of stage five of Kingsford Terrace Corinda is underway, coinciding with stage four, after high demand for apartments in the popular inner south-west community. All two and three-bedroom apartments in the first three stages have sold.
Stage one of the much-anticipated Somerset Indooroopilly is due for completion before the end of 2021 within Brisbane’s Indooroopilly Golf Club. Aura launched stage two, the final stage, last month to meet demand for apartments and penthouses.
“Aura’s results for the first six month of 2021 were very impressive and we haven’t even commenced taking deposits for The Ninth,’’ Mr Russell said. I suggest that retirees looking for something very special on the Darling Downs move quickly because apartments in Aura’s communities don’t last long.’’
Aura’s directors believe demand has been so high with retirees becoming aware of the benefits of living in a supportive and safe community during the pandemic. A strong real estate market has also provided many buyers with more capital to fund the retirement lifestyle they desire.
“Mark and I are unashamedly anti-corporate and we launched Aura Holdings vowing that our residents would always come first,’’ Mr Russell said. “We make ourselves available to them, our doors are always open and we regularly head out to our villages to share a cup of tea or a beer with residents. We know that’s not the case for the overseas-owned retirement living conglomerates.
“We listen to our residents and they told us they want a higher standard of apartment with larger living spaces. They also want to be centrally located with easy access to major facilities in prime locations and suburbs, not stuck on remote outskirts, that’s why we build our communities in vertical villages on premium sites.
“Our retirees also want to age in place and we ensure we provide a range of quality in-home support they may need through our partnership with provider Five Good Friends.’’
Mr Russell said the Covid 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, fellow residents and Five Good Friends,’’ 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’s six southeast Queensland retirement communities:
The Pavilion North Kirra, 3 Lang Street: The first stage of North Kirra’s first retirement community sold out before completion in October 2021. Already 95 per cent of stage two has sold, with construction yet to begin. Retirees can join a waitlist for Aura’s next project, a new site on the Gold Coast is being sought near the water.
Somerset Indooroopilly, 145 Meiers Road: Stage one is due for completion before the end of 2021 with 60 per cent sold. The final stage of the luxurious development was launched last month and is selling now. Somerset (above left) is being constructed within the Indooroopilly Golf Club.
Kingsford Terrace Corinda, 260 Cliveden Avenue: Stage four and five have been fast-tracked and construction under way on both. The Francis and Lingrove buildings will provide some of the largest apartments on site, with further stages planned.
The Atrium Lutwyche, 15 High Street: Construction was completed early 2020. This one-stage community offers 59 chic apartments on Brisbane’s inner northside. Limited apartments remain with only one with city views still available.
The Avenue Maroochydore, 32 Baden Powell Street: The second and final stage (above right) was completed in 2020, providing 114 apartments, 85 per cent are now sold.
The Ninth Middle Ridge, 235 Rowbotham Street, Middle Ridge: Major construction is expected to begin at the end of August 2021 within the Toowoomba Golf Course. The project is offering something very different on the Darling Downs. Retirees can register their interest now and pay a fully refundable deposit later. Early depositors seeking extra space have an opportunity to amalgamate apartments.