Tim Russell and Mark Taylor, whom founded Aura Holdings in 2016, have lodged a development application for a 32-floor vertical retirement village – the company’s 7th development – on the Gold Coast.

Funded by Singapore’s private real estate investment firm SC Capital Partners, Aura Holdings have applied to Gold Coast Council to build 94 apartments, including sub-penthouses and penthouses (artist’s main picture). The Brisbane-based company paid $8.266 million for the site at Budds Beach.

It is all systems go for Aura Holdings, which opened the doors to the first stage of Somerset Indooroopilly, which will be four five-storey buildings, within Indooroopilly Golf Club, 8km west of Brisbane’s CBD, last week. 40% of the second stage being built has been sold.

Resort-style retirement living is not cheap. Somerset Indooroopilly’s two-bedroom, three-bedroom and four-bedroom penthouses are priced from $750,000 to $1.6 million. A northeast-facing penthouse of 260msq with four bedrooms, two bathrooms and two parking spaces is “price on application.”

At Aura’s Kingsford Terrace Corinda, a Brisbane suburb 13km southwest of the GPO, Stage 4 has sold out, Stage 5 is for sale and Stage 6 is to be released soon. A one-bedroom one-bathroom apartment is for sale at $415,000 and an apartment with three bedrooms, two bathrooms and a car parking space has sold off the plan for $930,000.

Opening later this year is Aura’s The Ninth Middle Ridge, which is being built within the Toowoomba Golf Club in Middle Ridge, in the city’s southeast. Four-bedroom, two-bathroom apartments are priced over $1 million.

Aura’s The Pavilion North Kirra on the Gold Coast was sold out before the first stage was built in October last year. Like Aura’s The Avenue Maroochydore, there is a waiting list.

At Aura’s The Atrium Lutwyche, a village in the northern suburb of Brisbane, seven apartments remain for sale in the final release. Two-bedroom apartments are available from $495,000 to $590,000.