Leading Australian developer Third.i has announced a strategic joint venture with Dexus Real Estate Partnership 2 (DREP2) to deliver The Merewether Residences—a $300 million luxury retirement community located within Newcastle’s iconic Merewether Golf Club.
Under the partnership, DREP2 will provide capital funding support for the development, while Third.i will continue to lead all aspects of the project’s design, construction, and delivery.
The Merewether Residences will offer a vibrant, resort-style over-55s community, featuring 178 residences across a one-hectare site. Amenities will include a health and wellness centre, lap pool, cinema, and a new clubhouse, designed for use by both residents and golf club members.
Third.i Director and Co-founder Luke Berry said the joint venture reflects confidence in the developer’s proven ability to deliver large-scale projects.
DREP plays a critical role in providing capital funding to support the development, recognising the strength of our expertise in executing major projects in the living sector,” Mr Berry said.
Development approval has been secured, and early works are already underway, including the demolition of the site’s existing greenkeepers shed. Construction is scheduled to commence later this year, with the clubhouse expected to open in late 2026 and full project completion anticipated by late 2027.
The Merewether Residences were initially designed by Marchese Partners, with architectural oversight now transitioned to EJE Architecture. The design blends coastal charm with modern sophistication, reflecting Newcastle’s relaxed lifestyle.
The partnership announcement follows a key milestone for the project: the recent Section 4.55 approval allowing an additional level at the residences, strengthening the development’s offering.
Decode Group was appointed as the project’s builder in late 2024, further supporting Third.i’s commitment to delivering high-quality living environments.
The Merewether Residences join Third.i’s growing portfolio of major residential projects, including the completed WEST Apartments, Eaton on Union, and Stella on Hannell in Newcastle, and the upcoming Dairy Farmers Towers, currently under construction.
With a development pipeline exceeding $4 billion, Third.i continues to shape the future of urban and community living.
“We are excited to continue leading the way in creating vibrant residential communities,” Mr Berry said.