Developer Metacap’s twin Riverbend over-50s coastal communities in Hervey Bay and Agnes Water are both gathering pace, as demand for downsizer and lifestyle living continues to grow in two of Queensland’s standout retirement hotspots.
Combined, the two masterplanned communities represent a $280 million investment in age-appropriate coastal housing, with Riverbend Hervey Bay approaching the halfway mark in construction and Riverbend Agnes Water building sales momentum as its early stages come to life.
In Hervey Bay, the $130 million, 160-home gated community is now almost halfway complete. The masterplanned development has already recorded 32 sales, worth approximately $24 million, with homes selling for between $730,000 and $850,000, reflecting continued strong interest from local downsizers and lifestyle purchasers.
Further north, the $150 million Riverbend community in Agnes Water is gaining significant momentum, with more than $15 million in sales recorded as the seven-stage development springs to life.
Riverbend sales director Steve Condon said the comparative value of over 50s communities in areas like Agnes Water and Hervey Bay was driving significant interest in the project.
“When you can buy a three-bedroom home in a secure estate such as Riverbend for the same price as a one-bedroom apartment in Sydney, Brisbane or the Gold Coast, you can expect people to see some real value in our proposition,” said Mr Condon.
“Agnes Water and Hervey Bay continue to experience strong interest from lifestyle buyers due to its coastal location, relaxed environment, services and connectivity,” said Mr Condon. He said the region’s appeal has increased as more Australians seek alternatives to metropolitan living and look for communities that offer affordability, lifestyle and long-term liveability.
“The development’s gated community design, coastal setting and carefully planned homes have been key features attracting buyers,” he said.
“We are creating communities that are just that – residential locales where retirees can join together in like-minded communities as they enter retirement.”
Mr Condon said the projects were responding to a clear market need for high-quality homes that allow people to downsize while remaining connected to their local community.
"Riverbend is designed around the lifestyle priorities of today’s downsizers - quality homes, coastal living, security and a community environment where people can enjoy the next stage of their lives," Mr Condon said.
"Riverbend is meeting a clear demand from people who want to enjoy a coastal lifestyle while remaining independent and living in a well-designed, secure community," Mr Condon said.
"Our buyers are looking for more than just a house - they want a place that offers lifestyle, connection, low-maintenance living and value for money. Riverbend has been designed around those priorities."
Homes at Riverbend Agnes Water are being delivered by builders Skycity Homes and AGI Homes, with the project scheduled for progressive completion through to 2032. Stage 2 housing is expected to be completed by September 2027, with Stages 3 to 7 rolling out between 2028 and 2032.
AGI Homes is also delivering the residential construction program in Hervey Bay, with works progressing in line with the project schedule and the remaining homes expected to be completed within the next 12 to 18 months.
Mr Condon said the project’s steady progress reflected strong collaboration between the development team, builders and local contractors.
“AGI Homes has been performing exceptionally well and is continuing to deliver homes in line with the planned timelines. Seeing Riverbend take shape from a masterplanned vision into an established community is an exciting milestone,” he said.
Together, the two projects reinforce Hervey Bay and Agnes Water’s reputations as two of Queensland’s premier retirement hotspots, as buyers look to downsize into low-maintenance, community-focused coastal living without compromising on lifestyle or location.
Riverbend Hervey Bay display home by Metacap