Anyone actually developed (not invested in one) a lifestyle/retirement village?

I know many have invested in them but i'm actually trying to find info on actually building them....

Is this how its done typically - subdivide into say 30 allotments (or however many you can), build the retirement homes on each of the allotments (along with a communual area etc) and sell off each of the homes but you remain the owner of the land and you simply put a 99yr lease on each of the blocks which would give you fantastic cashflow for the next 99 yrs (yes i'm hoping to live that long :D)?

Have been trying to find a forum or other places where people chat about this stuff but coudln't find anything...also tried searching forum but couldn't find anything either.

Residential is getting a little harder (to make a really great profit) so i'm trying to spread my wings and look at more commercial type deals but have found limited info on developing retirement villages so any advice would be great!!!
 
My grandparents live in one of these.

An excellent money spinner. I'd love to get involved. I'd assume you'd need a lot of start up capitial though.
 
They can be either set up as leaseholds as you have suggested, or they can be titled as a normal sub-division would, but with a covenant in place that restricts the use of the properties to say residents of 55yrs or older.

I have built several of these in the past for a property developer and became quite familiar with the title and contract issues. In the case of covenanted properties the benefits seem to be twofold: 1, dispensations can be sought and granted for a higher density (say 8 x 1br units instead of 4 x 2 br), and 2, they can be sold or leased as the owner sees fit.
 
Aged care

Hi just trying this from a iPhone so will have to see how it comes out but 1 of the people in our groups set up aged care and does aged care over 55's and full retirement groups he can help if needed. They are a bit of a hand full. The problem is not the development it's that this group does not or can't buy property but if you have buyers richard should be able to help
 
Hi just trying this from a iPhone so will have to see how it comes out but 1 of the people in our groups set up aged care and does aged care over 55's and full retirement groups he can help if needed. They are a bit of a hand full. The problem is not the development it's that this group does not or can't buy property but if you have buyers richard should be able to help

GEEZ grossreal great iPhone, corrects your spelling, puncuation and grammar,
have to buy one myself:D:D:D:D

Cheers

Pete
 
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