AVEO Group pushes forward with $220 million Newcastle project
Leading retirement developer Aveo Group has brought forward the second stage of its $220 million Newcastle development following strong interest in Stage 1, as construction tracks ahead of schedule.
The $24 million first phase of Aveo Newcastle comprises 50 two-bedroom independent living villas and is due for completion in July, coinciding with the commencement of Stage 2 which delivers a further 45 villas to the community subject to approval.
Stage 1 works will also include upgrades to the Shortlands Waters Golf Club with a new clubhouse set for completion in September, and seven new golf holes due mid-2018. A worldclass community centre with health and wellbeing facilities, resident function rooms, lounge areas and a gym will be unveiled to the public in October.
Aveo’s Executive General Manager for Developments Gary Kordic said the decision to push ahead with the second phase of the development was driven by the popularity of Aveo Newcastle with the local market.
“Stage 1 of the project is already completely reserved, and remarkably around 70 per cent of the interest we’ve received has come from people living within five kilometres of the community, in suburbs like Maryland, Mayfield and Cameron Park. The remainder of prospective residents come from the broader NSW region, in towns such as Lake Macquarie, Coffs Harbour or Taree,” he said.
Aveo Newcastle recently held an open day, where 500 people toured the community to see what was on offer.
“The feedback from our prospective residents was overwhelmingly positive, with many people attracted to the open-plan designs of the villas, generous gardens, lifestyle amenities and the level of care services that will be in place, and because of this we’ve certainly seen a positive effect on buyer interest.”
Once complete, the six-year Aveo Newcastle project will feature 300 independent villas and 127 aged care rooms catering to the over 65s community.