Contemporary seniors’ living development planned for prime riverfront site in Brisbane following its sale

6 June 2024

A 2.48-hectare riverfront site in Brisbane’s inner southwest has been sold to a leading owner, operator and developer of retirement communities across Queensland, New South Wales and South Australia, RetireAustralia.

The property at 19 Bell Terrace in Graceville was occupied by a former aged care facility and retirement village known as Beth Eden, but has been vacant for a year.

The centrepiece of the Graceville property is the irreplaceable Verney House, a heritage-listed two-level former residence that was built in 1888 and has been converted to offices and aged care accommodation.

The site is also home to heritage listed stables, among other buildings.

It was purchased by RetireAustralia from Bethany Christian Care, which had owned the property for 19 years, following an Expressions of Interest campaign run by Knight Frank’s Christian Sandstrom and Sam Biggins.

RetireAustralia is planning a high-quality retirement living and integrated care development centred around the refurbished heritage-listed Verney House on the site.

The proposal is an opportunity to design and deliver a modern seniors’ housing environment that responds to the changing needs and expectations of an ageing population.

As well as a full refurbishment of the heritage-listed Verney House and old Stables, the development proposal for the Graceville site includes three residential buildings of four storeys each, which will provide 101 independent living units and a 10-suite Care Hub.

The Care Hub will be a boutique home-like care environment offering higher level of care from a nurse-led team on site.

The dwellings is planned to be complemented with communal spaces offering social and wellness opportunities, including a pool, residents’ pocket park and beautiful landscaping.

The development will be code assessable and in keeping with Council’s expectation for the site.

RetireAustralia’s Chief Executive Officer Dr. Brett Robinson said: “There is a shortfall of seniors living supply in this area compared more broadly to South East Queensland.

“We have worked closely with an expert design team, including Marchese Partners | Life 3A and CUSP, and are excited to propose a place which will support a thriving community of older Australians able to live the life they choose in their own home.

“We will be the only seniors’ living provider in the catchment offering independent living with the continuum of care services.”

RetireAustralia are engaging with the local community to keep them informed and to provide options for more information or submitting queries.

Knight Frank’s Christian Sandstrom said: ‘With the irreplaceable heritage residence as the centrepiece of the site, the property is the largest privately owned, Brisbane river-front freehold land parcel within this proximity to the Brisbane CBD and attracted significant interest from a broad range of parties when offered to market.”

Knight Frank’s Sam Biggins said: “Brisbane has seen a deficit of new senior living facilities, and in particular those offering a premium product in high median house-price areas.

“Retire Australia’s proposed plans for the redevelopment of the site will deliver a quality of product which has historically been rarely seen in Brisbane however is increasingly sought after.”