The FY23 Financial Results from Stockland and Ingenia Communities have several interesting pieces of information.
None more so than Stockland, which has $1.6 billion to further invest in new opportunities, and is almost certainly in pole position to buy Lendlease’s Master Communities business, with known bids ranging from $1.2 billion to $1.6 billion for the division’s projects (individual properties) and platform (business support, tech, marketing, brand).
But it is Hometown that is the undisputed leader in the sector, with close to 10,000 operational home sites in the sector. Originally Gateway Communities, America’s Hometown paid $685M in 2018 for approximately 58 communities.
Stockland has been including land lease communities as part of its master planned communities, for example, Halcyon Nirimba, and Halcyon Blu, within its Aura community near Caloundra on Queensland’s Sunshine Coast, and Halcyon Evergreen, in the Evergreen Community in Clyde. 48km south-east of Melbourne’s CBD.
In addition, it intends to launch up to 12 new land lease communities within 12 months, plus takeover the five Living Gems communities in Queensland.
Ingenia Communities now has 12 builders working on 18 projects. It has a pipeline of 5,778 development sites, with 3,500 in QLD, 1,500 in NSW and 778 in Victoria.
It is targeting to build up to 2,000 new homes by 2026.
The SOURCE: Ingenia Communities graph (pictured above) is entitled Competitive Landscape; it might leave retirement living operators green with envy.
