The partners will build a new retirement village, clubhouse and update the golf course at Chatswood Golf Club on Sydney’s exclusive Lower North Shore.

The first stage of the project is set to be approved next month, with construction expected to start in late 2018.

The 14,000sqm site will be open to both Golf Club members and village residents and feature a restaurant/bistro, bar, health and wellness centre, pool, gym and a cinema as well as new Club rooms, pro shop and golf simulators.

In addition, the golf course will be upgraded to improve the course layout, water management and access roads for golfers.

Stuart Nicolson, CEO of Folkestone Seniors Living said that the new development will meet a shortage of quality retirement options for locals living in the area.

“The Chatswood Golf Club site is an ideal location for a seniors living community, given its outstanding views across the golf course and Lane Cove National Park, and its accessibility to the golf course, public transport (bus and rail), and the commercial and retail hub of Chatswood,” he said.

“The Project is an excellent example of how golf clubs and seniors living communities can come together to provide outstanding seniors living accommodation and community facilities for the benefit of the members and the local community.”

The development follows the success of the partnership’s first seniors community Watermark Castle Cove.