Brisbane-based Denmac Nominees is the latest developer to tap into the aged care market, submitting a proposal for a 12-storey retirement facility in Brisbane's inner north.
The retirement tower comprises 98 aged care rooms and 79 independent dwellings across 19,159sq m with ground floor commercial tenancies available for lease by health care services.
The proposal is located in Windsor, three kilometres north of Brisbane's CBD.
Denmac is calling its proposal an "ageing in place solution", with residential care facilities located alongside the retirement village in separate wings.
The developer is also proposing retail, food and beverage and outdoor landscaped areas in the ThomsonAdsett-designed building.
Denmac amalgamated 193 and 195 Lutwyche Street and 10 Lyons Street, of which the latter — a 923sq m parcel of land — was purchased most recently in 2015 for $1.5 million.
The 4,213sq m site is currently occupied by a Mercedes Benz dealership and a clothing distribution centre.
The developer's proposal joins a surge in aged care development in Brisbane, with the Ethnic Communities Council of Queensland announcing plans for a 115-bed project in Brisbane's west and Aura Holdings launching the second stage of its 53-unit Duporth independent living project in Brisbane's Corinda.
Related reading: Aged Care Development on the Gold Coast Ramps Up
Other aged care development in the Sunshine State includes Aveo's recently approved 16-storey retirement tower on the Gold Coast, which will accommodate more than 150 seniors and Japara's $30 million aged-care facility in Robina.
Recent data collected by Ray White Commercial revealed that $147.53 million was spent on medical space in 2017 to meet Brisbane's rapidly ageing population.
Denmac are currently awaiting approval and are yet to propose a timeline for the project.