Vertical Retirement Village - 162 Oceana Tce Manly (QLD)

The proposed retirement village consists of 187 high spec independent living units (ILU's) located in 6 low rise buildings atop a communal basement carpark with a resident communal facility incorporating; heated swimming pool, bowling green, cafe, dining lounge, club room, billiards, health studio, cinema, salon, library and consultation rooms. The retirement village is co-located on the site of an existing aged care facility, as well as the site of one of Brisbane's oldest heritage listed mansions. 

MP provide full service development management to the project entity (developer and land owner partnership). MP has been engaged on the project since early 2021 and has so far undertaken the following;

• Developing the initial business case and subsequent updates at various gateways. 
• Re-masterplanning the site to include two additional buildings,
• Achieved development approval over the entire masterplan,
• Received State Heritage approval for the proposed works,
• Oversaw the initial marketing launch in 2021, re-launch sales in 2024. 
• Engaged an ECI Contractor to finalise the building contract for Stages 1 & 2
• Managing the construction phase including interfacing with existing residential aged care facility on site.
• Manage joint venture relationship in accordance with all contractual and governance requirements.      

The project has faced a number of challenges and constraints that have required close collaboration between all stakeholders. These include;

• Initial resistance to the project from the local community and local council who rejected the original development application despite being permissible under the zoning. 
• State heritage listing over the entire land parcel of 1.6Ha. 
• Having an operating residential aged care facility and existing low density retirement village on the site, maintaining uninterrupted services and access, and having to negotiate with existing retirement village residents to vacate the site for re-development 
• Unprecedented escalation in construction costs throughout the development period to date. 
• Preservation and protection of existing vegetation around the periphery of the site. 
• Large number of internal stakeholders to be consulted and managed throughout the development process.  

Key Milestones Achieved and Future

• Original court approval - Dec 2019
• Initial marketing launch - Feb 2022
• Lodge revised masterplan application - Jun 23
• Revised masterplan approval - Feb 2024
• Engage ECI Contractor - Mar 2024
• Commence Demolition - Jul 2024
• Re-launch sales - Aug 2024
• Commence construction stage 1 & 2 - Nov 2024
• Handover Stage 1 & 2 - mid 2026
• Overall project completion - 2028