Newspaper article The Morning Bulletin (Rockhampton, Australia)

Trading Land for Apartments

Newspaper article The Morning Bulletin (Rockhampton, Australia)

Trading Land for Apartments

Article excerpt

Byline: Shayla Bulloch Shayla.Bulloch@capnews.com.au

WHEN Peter and Joanne Shepherd gave up their Rockhampton acreage for a modern riverfront apartment, the transition didn't happen overnight.

But now settled in their penthouse home on the top floor of Southbank Apartments, Mr Shepherd said he wished he did it sooner.

The Shepherds are among the growing number of retirees snapping up prime riverfront real estate to downsize and enjoy the benefits of proximity living.

Pat O'Driscoll Real Estate sales consultant Barbara Knowles said the exclusivity of waterfront living was becoming popular among older residents.

A penthouse in a similar apartment building was sold last month on East St for close to $1 million, showing faith in Rockhampton's growing unit market.

"Retirees in particular are looking for quality apart- ments in a prime location that gives them a lifestyle with position, convenience to shopping, restaurants, entertainment, the arts, and the opportunity to still have an active lifestyle with walkways, gyms, pools and sporting facilities, without the hassle of property maintenance," Ms Knowles said.

After climbing to the top of the mining sector, Mr Shepherd, 62, retired two years ago for health reasons and took a liking to apartment living.

"I stayed in an apartment on the river in Brisbane with my brother-in-law and saw what it was like," he said.

"It was something I wasn't used to, but it really made me think of the benefits."

With acreage to maintain and the reality of ageing in the back of his mind, Mr Shepherd said he and his wife decided to sell.

"I came to the realisation that through time you get older and you can't maintain a premises," he said.

"My parents lived in their home for 60 years and in their later years relied on family for some maintenance purposes.

"But we are a family who have never been bound to a home and made the decision to bide our time and wait for something to arise."

Mr Shepherd said Southbank Apartments on the Rockhampton riverfront was the perfect opportunity.

Ms Knowles said water- front living gave residents the best of both worlds.

"Residing near any waterfront has always been a drawcard for real estate sales and combine that with the ever changing landscape of the mighty Fitzroy River, the magnificent views of the Berserker Range and the picturesque city outlook to the elevation of The Range suburb, and we find a variety of reasons that continue to attract buyers," she said. …

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