Land lease operator Lifestyle Communities is planning a total of seven product launches this financial year as it chalks up 126 sales and 96 settlements in FY23 to date.
At Lifestyle’s Annual General Meeting, Managing Director James Kelly discussed the three launches so far this year at Lifestyle Woodlea, Lifestyle Bellarine and Lifestyle St Leonards, as well as the planned launches at Phillip Island, Clyde (Riverfield), Merrifield, and Pakenham.
In its three-year settlement guidance, Lifestyle expects 1,400 to 1,700 settlements between FY23 and FY25.
“FY23 is expected to see a large increase in activity levels as we launch seven projects for sale during the year. This will translate into the higher settlement numbers forecasted in FY24 and FY25,” Jakes noted in his address.
Lifestyle increased its debt facility to $525 million last month, with drawn debt currently at $340 million.
