Luxury living lures down-sizers
THE Smorgon and Liberman families' $90 million joint venture in luxury retirement living in Melbourne has recorded apartment pre-sales of 25 per cent.
The apartments have been sold some weeks ahead of the 54-residence Toorak Place development officially going on sale, at prices up to $1.72 million.
Located at 28-30 Jackson Street, alongside Toorak Village, the retirement project is a joint venture between the Smorgon's Escor Property and the Liberman's JGL Investment, and is managed by Retirement Services Australia.
JGL is a part-owner of RSA, which is controlled by Melbourne businessman and Richmond Football Club president Clinton Casey.
Started 16 years ago by Mr Casey, RSA has developed and managed retirement accommodation in Melbourne's best suburbs.
It now manages 1000 apartments located in 14 facilities.
JGL bought into the group five years ago.
Mr Casey is also the chairman of golf course residential developer Links Living, whose projects include the Sanctuary Lakes and Sandhurst development in Melbourne and a recently approved development at Airlie Beach in Queensland.
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