Co-Founder and Managing Director James Kelly has announced the business has bought a 10ha site in Clyde, 48km southeast of Melbourne’s CBD, and a 13ha site in Inverloch, one of the final pieces of zoned land within the Bass Coast Shire.
The acquisitions will take the total number of homes under management or to be developed to just short of 6,500 homes in 32 communities.
Both new properties are near existing Lifestyle Communities which supports a strong referral rate from homeowners, said James (pictured), who has recently taken Stockland to the Federal Court.
“Our homeowners are our biggest advocates with up to 50% of our sales coming from referral and that’s an incredibly powerful tool to have when creating these communities,” he said.
“The new site in Clyde is close to our flagship Lifestyle Meridian and Lifestyle Riverfield locations. Meridian has less than 20% of stock left, and Riverfield has recently hit the market with a terrific response so far.”
Further south, Inverloch is similar to Lifestyle Phillip Island, being walking distance to the beach. Lifestyle Communities is set to provide homeowners with a complimentary shared boat for days on the water and holiday villas as part of its Club Lifestyle offering.
The new sites will create 255 (Clyde) and 200 homes (Inverloch) respectively, catered towards working, semi-retired and retired people over 50 seeking affordably priced homes.
The new properties follow the recent acquisitions at Clifton Springs and Yarrawonga announced in Lifestyle Communities FY23 Full Year Results.
The SOURCE: While Lifestyle Communities, which uses DMF model contracts unlike most land lease operators, bills itself as an affordable offering for retirees, its homes still sell from $420,000 to over $500,000.
