13 February 2015

Media Release

Stockland is approaching its first major milestone on the $160 million redevelopment of Cardinal Freeman Retirement Village in Sydney’s coveted inner west suburb of Ashfield.

Capitalising on the emerging trend for inner city vertical villages, Stockland will release the first new apartments to be known as The Residences at Cardinal Freeman in the coming weeks.

The Residences at Cardinal Freeman, is located less than 10 kilometres from the Sydney CBD, close to public transport, and near some of the inner west’s most popular shops, restaurants, clubs and entertainment facilities, The design combines the best elements of contemporary apartment living while rejuvenating the site’s heritage buildings including Glentworth House, to produce an exceptionally well-integrated blend of new and historic architecture.

“We’re excited to announce that the first release of apartments in The Residences is only weeks away. We encourage prospective customers to register their interest to secure a priority opportunity to purchase.”

The first stage of development is underway now to deliver 57 apartments by mid-2016, with the first ‘off the plan’ sales to be available to interested buyers soon.

On completion, The Residences at Cardinal Freeman will comprise of 240 new apartments, ranging in size from one to three bedrooms, with each including a car parking space. The community will feature, a new clubhouse, pool and gym, bar, hairdressing salon, theatre, billiard room and range of allocated useable outdoor spaces such as a Village Green and vegetable garden to create an environment that promotes sociable, connected living with a strong sense of community.

To provide a long-term continuum of care, the redevelopment will include a separate, state-of-the-art 133-bed aged care facility within the village. The facility will be owned and managed by Australias largest aged care provider and Stockland partner, Opal Aged Care; who will ensure high-quality care is on offer to older residents if or when required.

“We have responded to current and anticipated growing demand for convenient, low maintenance apartment living, with a diverse offering, available at a range of price points.” explained Stephen Bull.

With the redevelopment tracking well since commencing in May 2014, interested parties are invited to apply online or call 1800 727 170 to receive an introductory brochure and DVD and be a part of the first information evening and initial sales release in the coming weeks.

Stephen Bull, CEO Retirement Living at Stockland, said: “The Residences at Cardinal Freeman will set a new benchmark that will appeal to Australian seniors with the best advantages of inner city living. Our customers are increasingly interested in buying into communities that deliver contemporary, lifestyle homes designed for future needs that are surrounded by exceptional amenities close to everything they love, especially their friends and families.”

Notes to editor:

Fly through video: https://www.youtube.com/watch?v=E1qoSmmiTgE (please contact for high res downloadble file)

Construction Timetable:

Work on the redevelopment of Cardinal Freeman Village started on 26 May 2014, following approval of our redevelopment plans by the Department of Planning and Infrastructure in April 2013. We will deliver the redevelopment in three stages:

Stage 1 includes:

  • Two residential buildings (Bellflower and Magnolia) with 57 new apartments,
  • The state-of-the-art 133 bed Opal Aged Care facility
  • A new village cafe
  • Restoration works on the Chapel.
  • Start date was May 2014 and expected completion date is April 2016

Stage 2 includes:

  • The Jacaranda building with 40 new apartments
  • The new clubhouse with a pool, gym, bar, lounge and multi-functional activities room
  • Village green and communal vegetable gardens.
  • Expected commencement date is April 2015 and completion May 2017

Stage 3 includes:

  • Additional 97 new apartments
  • New heritage gardens next to Glentworth House.
  • Proposed start date is mid-2017, with proposed completion by 2020

Once completed, the redevelopment will feature:

  • 240 new apartments (1, 2 or 3 bedroom with a balcony, terrace or courtyard and carspace)
  • New clubhouse
  • A central village green
  • Restored Glentworth House and Heritage Gardens
  • Secure community location with 24hr emergency call system
  • Amenities including: lounge, library and theatre, pool, gym, café and bar
  • Adjoining Opal Aged Care 133-bed facility
  • Social activities and village bus

For more information visit: www.cardinalfreeman.com.au

Stockland
Stockland (ASX: SGP) was founded in 1952 and has grown to become Australia’s largest diversified property group – owning, developing and managing a large portfolio of shopping centres, residential communities, retirement living villages, office and industrial assets. Stockland was recognised by the S&P Dow Jones Sustainability Indicies (DJSI) as the Global Real Estate Industry Group Leader for 2013 – 14 and was also named one of the Global 100 Most Sustainable Corporations in the World at the World Economic Forum in Davos, Switzerland in 2014, for the fifth consecutive year.

For media enquiries

Monique Jones
Senior Manager -
Media Relations
Stockland

T +61 (0)2 9035 3263
M +61 (0)406 315 014

Greg Spears
Senior Manager -
Media Relations
Stockland

T +61 (0)2 9035 3263
M +61 (0)406 315 014