An artist’s impression of the luxury seniors living estate ‘The Rose by Moran’ at Wahroonga.
There is no question that COVID-19 is making plenty of people rethink where and how they live.
Working from home has opened up many new opportunities, and interestingly, the lockdown has also spurred people into thinking about retirement options.
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Nerida Conisbee, realestate.com.au chief economist, said online search activity had risen since the first COVID-19 lockdowns in March.
“The interest in luxury living at retirement is also showing up when we look at new development inquiries,” she said.
The Rose By Moran at Wahroonga is currently Australia’s most popular, Ms Conisbee said.
The luxury seniors independent living project is being developed at 1574-1578 Pacific Highway, a property also home to one of the area’s most stately, heritage-listed homes, Rosemorran, which has been owned by Marc and Lindy De Stoop since 2003.
Dr Shane Moran and Marc De Stoop at the new seniors development in Wahroonga known as The Rose by Moran.
An artist’s impression of the development.
Apartments are ultra-luxury.
They have teamed up with former Moran Health Group chief, Dr Shane Moran for the project. which is under construction and will comprise 34 two and three-bedroom luxury apartments.
Dr Moran said he was surprised to learn how popular the project was nationally.
“Our phones have been running hot,” he said.
“We’ve been fielding a lot of inquiries and secured some strong sales which has put us ahead of expectations. I think the current environment is certainly focusing people on looking for a safe haven for themselves or their parents.
“People preparing to retire are thinking about how they move to this new stage of life and maintain independence but still stay connected and part of a community; and adult children are wanting the best care and environment for their elderly parents. They also know we’ve been in the industry more than 60 odd years so there’s definitely a significant sense of comfort in that.
“Buyers are looking for a balance of all of these things in new generation retirement living – we’re offering that plus the back-up health services and assistance.”
Luxury common areas.
The indoor pool.
Classic style.
Dr Moran said the development was well ahead of targets in terms of off-the-plan sales, and they are expecting a sellout before construction is completed.
“In particular there’s been a tendency toward the larger, higher-end apartments and they have been most in demand, bearing in mind we’re still off the plan,” he said.
“As we get closer to completion we’re seeing interest build as it’s easier for people to visualise.”
He said construction was tracking well and was on target for a late end of year completion – around November/December.
There are still a number of two-bedroom plus study apartments available from around $1.2 million, up to more than $3 million for a three-bedroom apartment.
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