Lendlease has announced a development agreement with Brisbane Racing Club (BRC) to develop an integrated retirement and aged care precinct in the Brisbane suburb of Ascot.
To be developed over five stages, the two-hectare development overlooking Doomben racecourse will include 300 independent living units, 108 full service high-care aged beds and resort style facilities including a café, restaurant, and a new bowls club.
“The site provides an opportunity to develop a market leading, intergenerational retirement and aged care community adjacent to a renowned racecourse,” says Tony Randello, managing director of Lendlease’s Retirement Living business.
“We’re excited to create a connected community where residents will have the utmost choice and opportunity to pursue an active lifestyle, being close to all essential health and community services, shopping and sporting facilities.”
The project is another step in the BRC’s $1.5-billion masterplan.
“This development agreement represents the next phase of the BRC Masterplan over our two racecourses. While we have been active in transforming the Eagle Farm precinct, this is the first project on the Doomben side of our Club,” says Neville Bell, chairman of BRC.
“This partnership with Lendlease is part of the BRC’s strategy to develop our non-core land. This is producing a diversified business model that will future-proof the BRC and help to fund new racing and patron facilities.”