The fully occupied 214-home Macquarie Shores Home Village over 50s land lease community, which also has one vacant, development-ready site, was only offered to targeted suitors in an off-market sale.
“Macquarie Shores Home Village ultimately sold for $31.75 million, which represents a 5.25% yield to one of Australia’s leading RLLC operators, Hometown Australia; and who was adding to their existing presence in the region" said Andrew Jackson, of HTL Property.
The Weekly SOURCE reported on Hometown Australia’s acquisition on 4 November.
"This strong sale follows the HTL Property's successful sale of The Sunstrip Park, another land lease community asset also located on the NSW Central Coast, and which sold for over $17 million earlier this year on a 5.30% yield. Again demonstrating the ongoing strength of this asset class and moreover, the unwavering investor appetite for quality assets in the sector."
Hometown Australia is the Australian arm of the US over 55s and all-age communities owner/operator Hometown America, which has more than 24,000 homes across the USA. The latest research from Chadwick Property Valuers states Hometown Australia is approaching 10,000 homes.
Check out Hometown Australia’s communities and their availability on the #1 website villages.com.au.
