Construction on a new over-50s community housing development in Flagstone began this month, with 74 homes already being built.
The community ‘Ashcroft’ by Millbray will be home to 293 houses, across 12ha, upon its completion, which is expected to take between four and five years if the blocks of land are bought up quickly, a Millbray spokesperson said.
Ashcroft’s first residents are expected to move into the development in 2026.
The spokesperson said over 50s villages had seen significant demand in the last few years, due to the amenities they offer.
“Land lease communities offer sophisticated homes and a range of both social and health and wellbeing amenities,” the spokesperson said.
“The low-maintenance nature of living within these communities is incredibly appealing to residents.
“Given the scarcity of land, it is incredibly unique to find a site that offers such a strong connection to surrounding amenities within the local community.”
Land leasing company Millbray is owned by Macquarie Real Estate Partners (MREP), which bought the company in early September this year. Millbray is new to community development, and Ashcroft will be their first.
A statement from MREP said Millbray would cater to the growing demand in the over-50s property market and would focus on delivering 5000 homes on the east coast of Australia across Queensland and New South Wales.
Millbray has already secured more than 2000 sites in Queensland and New South Wales on which properties will be built.
Managing Director at Macquarie Asset Management, MREP’s parent company, Justin Ayre, said Millbray would be well connected to existing local amenities and benefit from new build amenities as well.
“Millbray’s communities will provide residents with high-quality, purpose-built housing and resort-style amenities within a secure community, and with convenient access to medical, transport connections, and community services,” Mr Ayre said.
Health and social amenities, which will include a 25m lap pool, spa pavilion, sauna, gym, bowling green, pickleball courts, a cinema and more, will be built in a dedicated ‘lifestyle precinct’ across 5000sqm.
Ashcroft will be located in a central part of Flagstone for residents to easily access major health facilities, public transport, and parks.
