Pacific Golf Club
Retirement Village Development
Why are Pacific Golf Club looking at this opportunity?
The cost of operating and maintaining a golf club is a significant ongoing challenge. Declining membership and ageing assets — such as the clubhouse — places increasing pressure on the club to fund the upkeep of over 50 hectares of golfing green space through golf-related income – it’s simply not sustainable.
In order to ensure long-term financial sustainability, Pacific Golf Club (PGC) must move to a position where revenue is generated from a variety of sources, whilst ensuring its facilities cater to both golfers and the local community.
At a recent meeting of PGC members 89% voted to support a development opportunity with Brisbane based retirement village operator Reside Communities.
The proposed development would provide a long-term, ongoing income stream for the club without impacting on the course or causing any loss of green space.
Your Land, Your Facilities, Your Assets
The land the course sits on is the club’s most valuable asset. The club is proposing to move forward with Reside Communities on the following basis:
1. PGC will not sell any of its land. PGC will provide a long-term lease to Reside Communities (a reputable industry operator) to create retirement living options for the local community.
2. The development will preserve the remaining 53 hectares as invaluable suburban “green space” for the benefit of the entire local community for the next 99 years.
3. The project site is already a predominantly developed area comprising the existing clubhouse, buggy storage sheds and the carpark.
4. The project site represents only 1.5 hectares of the 53 hectares the club owns (less than 3%).
5. The project will have NO impact on the current 18-hole golf course or the par 3 course.
6. The new clubhouse will be built before the old clubhouse is redeveloped, ensuring continuity of service to members and the local community.
Why a retirement village?
In the Carindale statistical area (which takes in the suburbs of Carindale, Carina Heights, Holland Park, Mt Gravatt, Mansfield and Holland Park West), almost 7800 residents are aged over 70. This is expected to increase over the next 10 years by more than 2,500 (up 33 percent) to more than 10,000.*
Like many areas in Brisbane, Carindale doesn’t have enough retirement living options to meet demand. Unfortunately, this means many long-term Carindale residents have to consider leaving the community they have lived in for decades to find a place to retire.
This project will provide retirement options to suit a range of different needs right in the heart of Carindale, with easy access to shops and essential services.
Who are Reside Communities?
Reside Communities is run by a highly credentialed team with significant experience in retirement village development and operation.
The CEO of Reside – Glen Brown was previously the CEO of Retire Australia for eight years, the largest private owner/operator of retirement villages in Australia. He has over 17 years direct experience in retirement village development and ongoing operation.
Glen is a Carindale resident and former club member. He is fully aligned with the local community in seeking to create a market-leading, retirement village and club offering which will future proof the sustainability of Pacific Golf Club and protect the critical 50+ hectares of open green space for the entire community.
What will be the size and scale of the development?
The proposed development is currently at early concept design stage and will be subject to extensive member and community engagement. The focus will be on creating a high-class independent retirement living community in keeping with the existing housing options in Carindale.
The design will particularly respond to the club’s adjacent neighbours, with a focus on integrating the development with the local community and providing a significant green buffer within the existing carpark.