Otium Living, the consultants for developers in the luxury retirement property sector in South East Asia, has launched its first luxury retirement village in Phuket.
Set on a tropical hillside, Otium Phuket will be part of the larger MontAzure Resort – located on the west coast of the island overlooking Kamala Beach – that features private luxury estates, oceanside apartments, an Intercontinental Hotel, a beach club and dining options.
Otium Phuket, when completed in 3Q2022, will span 20 acres (8.1ha), offering 149 properties in total. These include 123 apartments and 26 villas, with sizes from 1,087 to 4,693 sq ft. Some units will be carved into the sloping hillside while those that are built higher up would be able to enjoy views of the Andaman sea.
According to Daniel Holmes, CEO of Otium Living, the company had given exceptional thought to the design of the retirement homes.
“I wanted to design something that when you move in, you’d immediately feel younger, not older,” says Holmes. That was why he gave architecture and interior design firm Michaelis Boyd a brief to design a retirement village for those over 50 years of age.
While the homes are designed to accommodate its older occupants, these were incorporated unobtrusively. For example, although there are no support bars in the bathrooms, fittings in the bathrooms are load-bearing, meaning “if you wanted to grab onto the sink or the towel rail for support, you can,” says Holmes. Other thoughtful design aspects include wider doors to accommodate the wheelchair-bound as well the installation of sliding doors, wherever possible, he adds.
For Otium Phuket’s facade, Michaelis Boyd has adopted a “modern Thai” style. This includes a pitched roof design with rich detailing that is a defining feature of traditional Thai architecture. Natural materials with rich textures were also selected to meld Thailand’s traditional past with a modern design.
The villas will feature huge windows and skylights to let in plenty of natural light. Warm tones and tactile materials are used for the interiors to match the resort’s natural surroundings. Large windows and greenery connect the internal spaces to the tropical setting outdoors. There is also the option for outdoor lounging at the swimming pools.
Meanwhile, the apartment units will have spacious balcony areas that allow residents to take in the outdoor views and enjoy al-fresco dining. The apartments will also feature smooth surfaces with bold colours, made using a mix of natural and man-made materials.
Prices for the villas start from US$1.6 million ($2.2 million) while a one-bedroom unit apartment start from US$500,000 — both based on a 30-year lease. There will also be the option to rent the property on a monthly basis, although the rates are not yet available. Only those aged 50 and above would be able to reside in the property. There will be 24 properties that come with the option for homeowners to rent it out, at a guaranteed yield of 5% for five years. Residents will also be able to enjoy private access to the MontAzure facilities, Holmes adds.
Holmes says the properties are designed to cater to the buyer’s first 15 to 20 years after retirement when he is “still fit, healthy, active and travelling”. What Holmes does not want is for Otium Phuket to end up as a retirement village with a medical focus. “Retirement has two stages. One is the hospitality years, and then there’s the hospital years which we don’t do,” he quips.
At the centre of the retirement village with villas and apartments surrounding it will be the Otium Phuket Club comprising facilities such as a spa with sauna and steam rooms; gym and fitness spaces; 25m lap pool and leisure pool; private cinema; art studio and events space; and landscaped gardens and walking trails.
The clubhouse will also have a Naturopathic Centre that offers a natural and non-invasive method of treating diseases and keeping the body healthy.
Staff nurses will also be on call round the clock in an on-site medical suite. Otium Care staff will also help residents with services ranging from housekeeping to shopping and can even offer them help in getting dressed if needed. A nearby hospital is also 25 minutes away by car in smooth traffic, says Holmes.
Otium Phuket is targeting potential residents who are currently living in cosmopolitan cities in Southeast Asia, says Holmes. This includes those in Singapore, Hong Kong, Beijing, Shanghai, Bangkok and Kuala Lumpur, among others.
According to Holmes, Otium Phuket has already attracted potential buyers, with interest coming mostly from those in Thailand; followed by Singapore and the UK. There is also some interest from those living in Australia, Germany and Hong Kong.
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