With his Hyegrove Willoughby development well underway, Stephen Abolakian, Managing Director of HYECORP Property Group, is actively looking for his next retirement village project.
After over 10 years of dedication, Stephen is aiming to reopen a new Club Willoughby and open the Hyegrove retirement village and aged care facility on the same site in Sydney’s Lower North Shore on ANZAC Day 2025.
“It is nice to do something more than just a residential project; it is rewarding,” he told Leading Conversations at the Wharf.
“I have a love affair with Club Willoughby, significantly longer than my marriage.
“We’re over 50% sold at Hyegrove and I’ve told the team I’d like to be 100% by the end of the year as we expect some drop off. I don’t think that has ever been achieved before.”
Hyegrove Willoughby is Stephen’s first retirement village and when asked if the residential property developer would do a second retirement village, he replied:
“Absolutely, but the land is hard. The North Shore is our playground and we are actively looking. I don’t think it has to be with a club as a partner.
“With Hyegrove, we have the bones of a brand. The next retirement village will much easier.”
He had his first meeting about redeveloping Club Willoughby in 2008 and presented his plans to the club’s board in 2012.
