One of Australia’s largest retirement village developments is up for sale. The property Mount Gilead Estate at 72 Glendower Street in Gilead, is spread over a 23.3 hectare site in Sydney’s southwest, less than 50 kilometres from the CBD. 

With construction on the development starting in 2007, it now offers a total of 463 completed and  occupied residences, including 348 independent living villas and 79 independent living apartments. It  has approval for another 647 residences and additional retail and commercial space. 

Mount Gilead Estate also has significant existing community and recreational amenities including a coffee shop, hairdresser, 9-hole private residents golf course, indoor and outdoor swimming pools,  lawn bowls facility, gym, cinema room and 3,000sq m multi-level club house. 

Situated on an elevated site, the property has uninterrupted view corridors to the Southern highlands and Great Dividing Range.  

It is being taken to the market via an International Expressions of Interest campaign run by Sam Biggins and Mark Litwin of Knight Frank on behalf of the vendor, Australian Retirement Holdings (ARH). 

Mr Biggins said the estate offered buyers an extremely rare combination of revenue from both vesting  deferred management fees and future development potential under an existing DA. 

“Buyer interest in Australia’s senior living sector is significant and Mount Gilead Estate is a high-quality  asset in that it is a leading institutional-scale modern retirement village that presents to a very high  standard,” he said. “With approval for significant further development, plus accrued Deferred  Management fees which are beginning to vest, Mount Gilead offers multiple potential revenue  streams”. 

“It is one of the largest lifestyle villages in New South Wales, currently housing 700 residents and  growing, and upon completion, it will be one of the largest single site retirement villages in Australia. 

“Buyers also have the option of acquiring an additional 5.14 hectares of adjoining land owned by  related parties of the Village vendor, which could possibly be amalgamated into Mount Gilead Estate. 

“It may also be possible to increase the overall floor-to-space ratio of the amalgamated site, which could result in a 20% uplift in the total residences approved from 1,110 to 1,332.” 

Mr Litwin said Mount Gilead Estate was a key strategic asset located in one of the fastest growing  regions of Sydney. 

“Mount Gilead Estate is located on a prominent hilltop position within the booming southwest Sydney  growth corridor adjacent to Lendlease, soon to be Stockland’s Figtree Hill Masterplan community, and  with access to some of its amenity,” he said. 

“It is around five kilometres south of Campbelltown, which includes private and tertiary public hospitals, Macarthur Square regional shopping centre and is accessible to the future Western Sydney  Airport.  

“The property is situated in the Greater Macarthur Growth Area, which is seeing significant growth,  and in an area with an older demographic, with approximately 25% of the population aged over 55.” 

The International Expressions of Interest campaign for the property will close at 3pm (AEDT) on  Wednesday, October 9. 

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