The proposed over-50s lifestyle community will be located within DevCore’s $1.1 billion Coral Cove Ocean Estate.
Leading over-50s community provider Lincoln Place has lodged a Development Application with Bundaberg Regional Council for an over-50s lifestyle community within DevCore’s $1.1 billion Coral Cove Ocean Estate catering to the region’s growing downsizer market.
The proposed masterplan encompasses an 8.9-ha greenfield superlot at Pebble Beach Drive and includes 207 two- and three-bedroom homes, green spaces, a central clubhouse and extensive lifestyle and recreation amenities.
Lincoln Place Chief Executive Officer, Paul Yeo, said the proposal would provide quality new housing supply for local downsizers and drive significant local investment and job creation during construction.
“Our vision is to deliver thoughtfully designed homes and a multi-million-dollar investment in private resident amenities that supports local downsizers to live life well,” Mr Yeo said.
“These amenities include a state-of-the-art clubhouse, wellness centre and recreation spaces featuring a heated pool, private cinema, lawn bowls green and pickleball courts, will promote an active, social lifestyle.
“Delivering quality new downsizing options is an important part of the region’s growth solution, where over-55s make up more than 40% of the population – 12% higher than the Queensland average.
“We’re also committed to supporting the wider community through our investment, creating local jobs and engaging local trades and businesses during the construction process.”
“The site’s location within the Coral Cove Ocean Estate masterplan also provides seamless access to a thriving new community and a wealth of recreation and retail amenity, including an established championship golf course and a new village centre under construction.”
Coral Cove Ocean Estate is situated 20 minutes from Bundaberg and offers world-class amenities across multiple precincts.
Mr Yeo said the lifestyle estate would create opportunities for over-50s to downsize through the land lease model, a popular housing option in Australia and internationally that allows you to purchase a home, while leasing the land.
“When you buy into a land lease community you own your home outright, but there’s no Stamp Duty, body-corporate fees or Deferred Management Fees, and no council rates,” he said. “The only ongoing cost is a weekly site rental fee for the land that also covers the maintenance of the community and the extensive lifestyle amenities.”
About Lincoln Place
Lincoln Place is one of Australia’s leading lifestyle community providers, crafting spaces where over 50s can live life well and thrive. We create vibrant, connected masterplanned neighbourhoods under the land lease model, allowing our residents to downsize without compromise and free up capital to focus on lifestyle. More than 3,000 people live in Lincoln Lifestyle communities with a national portfolio of communities in urban and regional growth centres along Australia’s east coast. www.lincolnplace.com.au.