Lincoln Place founding Directors, Ben Hindmarsh and Nicholas Collishaw, were on a road trip to one of its “assets” - Sundown Lifestyle Estate in Symonston, ACT – when they took a call from us and revealed their land lease ambitions.
“When we started (in 2019) we were not 100% land lease and we had no goal at that point to be single focus,” said Ben. “Then our community in Cessnock (NSW Hunter region) went gangbusters and today we are building 300 (land lease) homes a year.”
Nicholas, who was CEO and Managing Director at Mirvac for almost eight years, added they expect Lincoln Place to build in scale to be in the “top three in the (land lease) sector”.
The challenge is that they have seven, by our count, larger and equally aggressive land lease operators in the way to reaching Top Three positioning. They are Ingenia, Hometown, Stockland/Halcyon, Palm Lake Resorts, Lifestyle Communities, Serenitas and GemLife
Today Lincoln Place, backed by New York based investment firm Cerberus, has 15 communities with 1,287 established homes and 1,218 lots still to develop. It also has six communities in private syndicates with 700 established homes with another 593 to develop.
“In the next 12 months we will have launched new communities in Mudgee, Griffith, Yamba, Eden (all NSW) and Huntley (Victoria) and we are closing on a shovel-ready site for the sixth community,” said Ben.
The SOURCE: In four years Lincoln Place’s growth is impressive but market leader Ingenia Communities has 4,200 established homes and 6,000 to be developed
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Sector Moves & People
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The inaugural Commissioner of the Aged Care Quality and Safety Commission, Janet Anderson PSM, will depart the role next month after six years in favour of a new face.
