In announcing its 1H25 financial result on Friday, Mirvac CEO Campbell Hanan said “Our land lease business has grown by 15% to over 7,000 lots since our initial acquisition 12 months ago and is well placed to capture demand in this sector.”
Serenitas led by new CEO Von Slater (pictured) has a number of brands and price points, including Thyme Lifestyle Resorts and National Lifestyle Villages.
Serenitas’ brands have 4,800 sites, 100% occupied. The average price of a home has increased 8% to $540,000. Seven new communities are to be launched over the forthcoming 12 months.
Days a home is on market is remarkably low in Brisbane (21 days) and Perth (13 days).
A graph presented on Friday showed Serenitas has a pipeline including an unannounced resort at the former Paradise Palms Golf Course at Kewarra Beach, a coastal suburb of Cairns, Queensland.
They have secured three new land lease communities with 900 units including in Mirvac’s Everleigh masterplanned estate in Brisbane.
In October last year it was announced Mirvac and Pacific Equity Partners Secure Assets had agreed to pay $1.01 billion, for a 47.5% ownership each, with Serenitas CEO Rob Nichols’ Tasman Capital Partners keeping 5%. Mirvac settled its investment in March this year. However, Tasman has exercised its option to reduce Mirvac’s ownership to 40%.
