CDL has entered into a collaboration with Waterbrook Lifestyle Resorts to develop a luxury five-star retirement village in Bayview, Sydney. The development named Waterbrook Bayview will be built on a 20,000 square metre freehold site. Bayview is an exclusive location within the Northern Beaches that houses a large and growing ageing population, and is a short distance from Mona Vale Beach and the Mona Vale shopping and retail precinct.

Slated for completion in 2020, the project is currently at the planning and design stage, with the number of units and gross development value to be finalised. The Group will be participating through debt financing of A$35 million, for which the specific terms are confidential.

CDL is positive on the luxury retirement sector as there is strong unmet demand from a growing demographic of well-heeled retirees who desire to live in well-curated communities with good facilities. It is excited to embark on this new area of business and intends to collaborate with Waterbrook to set a new benchmark in Australian retirement living and expand the brand throughout Australia, New Zealand and other parts of the world.