22 October 2019
A Queensland-based property developer says its project is proving popular among buyers who are keen to escape from apartment towers overrun with holiday makers and tourists staying at Airbnb apartments.
In early October, Aura Holdings launched its The Pavilion vertical retirement village development at North Kirra on the Gold Coast.
The ten-storey project will deliver 68 one, two and three-bedroom apartments priced from $495,000 to $1.28 million. The project’s first stage is under construction, with 40 per cent of units already sold.
The project, which is set aside for owner occupiers aged over 60, is only metres from North Kirra beach and close to public transport, restaurants, surf clubs, shops and medical facilities.
Aura Holdings director Tim Russell said the development had quickly found favour with retirees and downsizers who were seeking quality retirement living on the southern end of the Coast.
Mr Russell said several buyers had already downsized to unit living on the Coast but were now unhappy residing in apartment blocks that were open to holidaymakers and the Airbnb market.
“These retirees are uncomfortable sharing their facilities and the lifts with strangers. They now seek the benefits of living in a safe retirement community with like-minded residents, people they know and want to spend time with,” he said.
An Aura spokeswoman later confirmed that, at The Pavilion, residents were welcome to have family and friends stay over with them in their apartment. “We do ask if the stay is extended that the resident apply for a guest licence,” the spokeswoman said.
The spokeswoman added: “We have found some of the early buyers have already downsized to apartment living but have found some issues with sharing their building with Airbnb and holiday renters. So a retirement village with like-minded owner occupiers is appealing to them.”
The pet-friendly village will provide residents with a high standard of community facilities including a rooftop garden, café, gym, yoga and pilates zone, wine room and barbecue area, plus retail space on the ground floor.
Short-stay accommodation regulation a big issue across Australia
The regulation of short-stay holiday letting is a big issue across Australia.
The NSW Parliament has passed a law giving strata committees the power to ban short-stay holiday letting, but only for apartments that are not a host’s principal place of residence. The law is expected to come into operation later this year.
This will allow apartment owners to use a spare room for short-term holiday letting and to let out their principal place of residence while they are away on holidays.
By Mark Skelsey, Editor at Downsizing.com.au