Australian Unity gets the green light for $100M Brisbane retirement village and aged care home

The mutual fund has received approval for a $100 million Fender Katsalidis-designed village and aged care home in Auchenflower in inner Brisbane, the development site it acquired through its $65 million acquisition of Greengate’s retirement village and aged care portfolio in 2021. As we reported here, the site was part of a deal that saw private operator Greengate’s three retirement villages and aged care homes – two in Sydney and one in Brisbane – join Australian Unity. However, the fund is currently reviewing its residential aged care operations with a decision due mid-2023. The 18,242sqm Auchenflower development will comprise 87 independent living apartments on top of 108 residential aged care units under Australian Unity’s ‘Better Together’ care model and include a café, consultation room for medical practitioners and a rehabilitation gym. An in-use Catholic Church on the site has also been retained.

“Creating a continuum of care allows older people living in the community to access a choice of accommodation and care services that provides the peace of mind a low-change environment, and the quality design outcomes that Australian Unity is committed to,” said Australian Unity’s General Manager of Places, Lorraine Calder.

Fender Katsalidis currently has an aged care portfolio in excess of $500 million, including Australian Unity’s The Grace retirement village in Melbourne which is due to see its second stage aged care home, The Alba, completed this month.