Principle Living Group’s 50% partner Sue Mann Nursing and Community Care has told The SOURCE the joint venture has a 10-year plan to build and operate at least five seniors living communities.
It has just lodged a development application to build a 172 units/villas retirement village on part of Newcastle Golf Club in Fern Bay, as reported in The Source on 12 February. The Source incorrectly stated that developer Jeff McCloy, who had been involved, remained part of Principle Living.
“This will be the premier Retirement Village in Newcastle and the flagship development for Principle Living at one of the top golf courses in NSW,” said Andrew Mann, of Sue Mann Nursing and Community Care.
The aim of the partnership between Stevens Group and Sue Mann Nursing and Community Care is a mix of Retirement Living (RV) and Land Lease Communities (LLC).
It has the following developments underway or before the council:
- Blueheath at the Bower, Meadowie with 112 units in total. Stage 3 and 4 are nearly sold-out and are being finished in April/May 2024. The last stage will be built from June 24 with the village scheduled for completion in early 2025.
- Two development application-approved land lease community developments at Maitland and Cessnock. The Maitland site will have 160 villas, and the Cessnock site 301 villas. Work will start this year on both sites.
- Concept development plans for a 105-villa Retirement Village in Pokolbin at the Vintage (the Stevens Group’s masterplan golf community).
Stevens Group was founded on the NSW Central Coast in 1988. In 1996 Stevens formed a joint venture with the Glen Group to build retirement villages. It sold its four villages to Queensland-based property group Meridien Group in 2006, which went on a buying spree with investment manager AMP Capital Investors, before being renamed RetireAustralia in 2011.
Sue Mann Nursing and Community Care was founded in 1984. In 2007 Sue and her son Andrew Mann, partnered with Quadrant Private Equity and RAC WA, to be rebranded as myHomecare, which become one of the largest home care providers in Australia with over 12,000 homecare packages and caring for over 20,000 clients across both fully managed and self-managed homecare platforms. Australian Unity paid $285 million for the business on 20 February 2024.
Browse villages.com.au for the latest on Seniors Living including availability.
