Tweed Fairways Retirement Village listed for sale

Aveo, Australia's leading and most innovative retirement living provider, has listed Tweed Fairways Retirement Village for sale.

Located at 1-3 Soorley Street Tweed Heads, the 4,481sqm retirement village is being offered for sale with vacant possession.    

The property was originally developed as a motel in 2007 before undergoing significant refurbishment to be converted to a premium retirement living apartment complex comprising 70 one-bed private rooms with ensuites, kitchenettes and laundries.

CBRE’s Will Carmen, Marcello Caspani-Muto, Adelaide O’Brien, Jimmy Tat and Mark Witheriff are managing the sale via an Expression of Interest campaign closing November 15, 2023.

“The improvements on offer are some of the most valuable we have seen in the Queensland / NSW investment market. It would not be feasible to build a project of this size in the current construction environment with developers across Queensland in particular finding it very difficult to find builders. Couple this with the underlying land area and corner location, it really is a trophy opportunity,” Mr Carmen said.

Mr Caspani-Muto added, “Nationally the volume of vacant seniors living and healthcare assets continues to climb. We saw record volumes of transaction activity in 2022 and are on track to surpass this as we close 2023. QLD and NSW are seeing the most notable uplift in activity, matching what we saw in Victoria during 2012 and 2022.”

“Rising construction costs aside, town planning and development in areas like Tweed Heads can be time-consuming and highly challenging so to have the opportunity to secure an existing high-quality building of this nature should be appealing to multiple parties. We’re expecting interest from rehabilitation/ hospital users, aged care, social housing and more traditional accommodation uses.”