Investorist chats with World Group Managing Director, Richard Turner to find out more about Dusit Thani Brookwater.
What sets Dusit Thani Brookwater apart from other projects in the market at the moment?
Fully managed Residential Resorts by international five-star operators is relatively new in Australia, while they exist readily in international destinations, this will be the first five-star managed Residential Resort in Australia. Nothing on the Australian market offers this level of luxury and refinement with residents receiving an exclusive membership to all facets of the resort, including dining, spa and recreation facilities, 24-hour concierge service, conference and business facilities and access to a Greg Norman-designed golf course.
Each residence has been designed to exceed all expectations within the context of an international residential resort experience, with stunning golf course views and luxurious additions including private plunge pools, courtyards, and extensive outdoor entrainment areas. Key to all of this are the gross returns of 9% to 11% and net returns of 5% to 6%, with no out going to owner/investors after the net return. It’s a turn-key investment with all administration offered as a service to all owners and investors.
Can you give us a bit of back story about the resort and how it came to be? Why did you choose Brookwater for the location?
With large resort investment portfolios across Asia and the Middle East, The Dusit Thani Group saw an opportunity to make its first investment in the Australian market after recognizing the lack of luxury residential resort real estate options for both domestic and international buyers. Knowing our buyers were looking to invest into the very best of luxury residential resort living, we sought out locations that would allow us to give residents a scenic environment while still remaining close to all essential amenities. The resort is only minutes from Springfield, 19 minutes to the Brisbane and just 35 to the Gold Coast.
Its location between two high demand markets and its proximity to the growing business district and residential City of Greater Springfield is a huge advantage for buyers looking to have all the amenities and lifestyle of a golf and spa residential resort within a convenient location.
Have you noticed any changes in the off the plan property market since you started in the industry?
The industry has over time leaned further and further towards packaging as much lifestyle and amenity into new off-the-plan developments as possible on any development site. However often in many developments the amenity is of a token standard and not fully serviced or fully comprehensive in its delivery of service and amenity. It is this area of differentiation where Dusit Thani Golf & Spa Residential Resort at First Residence has gone beyond all market expectations on a truly sophisticated international level where the depth and breadth of amenity and service is unparalleled in the Australian market.
What makes a successful development?
A successful community is safe, secure, prosperous and happy. It’s a place where residents take pride in their homes and environment, and they enjoy a vibrant lifestyle with access to transport and essential services and amenities. A good community is well designed and encourages community interaction. It’s also important to offer a range of housing typologies that allow for diverse and vibrant neighborhoods. Walkability is also important, creating a network of pedestrian and bikeway paths is essential for connecting the community.
Where do you think the property industry will be five years from now?
Developers will continue to push the boundaries in their bid to create world-class communities in Australia. We will see a stronger focus on sustainable design. Communities will be designed to enhance and protect the existing environment, and promote environmentally efficient systems for water and waste water management and reuse. We’ll also see more developers creating ‘walkable’ communities. With health an increasing priority in today’s society, communities will encourage active living with more walking trails and bike paths and centrally located hubs with shops, dining, offices, and public gathering spaces.
Interested in knowing more about World Group and Dusit Thani Brookwater Golf and Spa resort? Check it out on investorist now.