NSW developer announces partnership with Dexus to deliver resort retirement village

Third.i Group has announced a strategic partnership with Dexus's opportunistic Fund series, Dexus Real Estate Partnership (DREP), for the development of The Merewether Residences, a $300 million, 178-unit resort style retirement village located in Newcastle NSW. Dedicated for retirees, empty nesters, downsizers, and Sydney-siders seeking a sea and lifestyle change. 

The second fund in the series, DREP2, has entered a joint venture with Third.i to deliver The Merewether Residences. The partnership will support Third.i’s vision and delivery of The Merewether Residences as a landmark over-55s community.

“As a joint venture partner, DREP plays a critical role in providing capital funding to support the development, recognising the strength of our expertise in executing large-scale projects in the living sector," said Luke Berry, director and co founder of Third.i Group. 

Development approval has been obtained, and enabling works are underway with construction due to start later this year with completion expected by late-2027. 

Located at the iconic Merewether Golf Club, The Merewether Residences is a luxury over-55s retirement community that integrates resort-style amenities such as a health and wellness space, lap pool, cinema, and a new clubhouse for both residents and golf club members.

Designed by renowned architects Marchese Partners and now overseen by EJE Architecture, the project blends coastal charm with contemporary elegance.

“This partnership with DREP2 reflects Third.i's reputation and experience as a developer, built on a track record of delivering outstanding projects. We are excited to continue leading the way in creating vibrant residential communities.

“This news comes shortly after the recent Section 4.55 approval for an additional level at The Merewether Residences, marking a significant milestone and further solidifying the project's trajectory towards success. Third.i will continue to lead all aspects of the project’s design, construction, and delivery, ensuring a smooth and efficient process,” said Luke. 

Reflecting Third.i’s commitment to excellence, Decode Group was appointed to build The Merewether Residences in late 2024. Early site works have commenced, with the demolition of the existing greenkeepers shed marking the start of construction. The new clubhouse is expected to open in late 2026, with completion anticipated in late 2027.

Third.i has a proven track record of delivering large-scale residential projects in Sydney and Newcastle, including the completed WEST Apartments, Eaton on Union and Stella on Hannell in Newcastle along with Hume Place the master planned Metro precinct in Crows Nest. Their landmark Newcastle project, Dairy Farmers Towers, in Newcastle West, is currently under construction.

This joint venture with DREP reinforces Third.i’s reputation as a leader in property development, setting new benchmarks in residential living. 

Looking ahead, Third.i will continue driving the project towards its next major milestones, demonstrating the power of strategic investment backing an experienced and visionary development team. With a development pipeline exceeding $4 billion, Third.i continues to shape the future of urban living.

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