The long-term investor, specialising in the development and operation of community infrastructure, has signed a development agreement with Cumberland Country Golf Club in Greystanes, 25km west of Sydney’s CBD to have a new retirement living precinct on club grounds.
“Through this partnership, we are excited to create a state-of-the-art retirement community that will offer an array of amenities that nurture physical and emotional wellbeing for both club members and future residents”, said John Innes, Pariter’s CEO.
Cumberland Club President, Denis Clifford said: “this is an exciting time for our club. The commercial terms of this agreement will replace our aging facilities and give us a new clubhouse with spectacular views over the golf course, a revitalised 18-hole golf course and financial security for well into the future”.
This is Pariter’s third club development project. They announced in May an agreement with Mingara Leisure Group to co-develop a new retirement living precinct adjacent to the Mingara Recreation Club in Tumbi Umbi on the NSW Central Coast. It is also a partner in the Watermark Residences at Newgreens Chatswood, 10km north of Sydney’s CBD.
“We are very happy with our current projects and the associated pipeline,” John told The SOURCE.
John joined us for our Westpac Conversations at the Wharf series – check out the video.
Photo (left to right): Dean Lin, Commercial Director, Pariter; John Innes, CEO, Pariter; Denis Clifford, President, Cumberland Country Golf Club and Andrew Laplain CCM, JP, General Manager, Cumberland Country Golf Club.
The SOURCE: For purpose investors like Pariter are creating new opportunities I retirement living that traditional operators are missing.
