The residential land lease division of the ASX-listed business described its new community in the City of Lake Macquarie local government area, 111km north-northeast of Sydney's CBD, as "quite simply one of the most exciting land lease communities Ingenia Lifestyle has ever undertaken."
Its first release of homes sold out in June and Michael Rabey, Ingenia Communiities' Head of Development NSW & Victoria, told Urban Developer's Land Lease Communities Summit the first residents in what will be its biggest land lease community (a joint venture with Sun Communities) of over 600 homes, will be entering in November.
"We are moving from that very, very rapid growth experience over the last few years and acquisitions of sites to now being very focused on delivery and development and the pipeline and maximising that going," he said.
Ingenia Communities said in its 2024 annual report that the group now has 35 land lease communities, with over 4,800 homes. The operator has a pipeline of 5,311 homes.
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