The Victorian-based land lease company, which was derided by the ABC as a financial prison in July last week and suffered badly as a result, has seen the leading superannuation company increase its voting stake from 15.80% to 16.94%.
AustralianSuper has increased its shareholding by 1.4 million shares (costing approximately $13 million).
Lifestyle Communities has close to halved its value in the past 12 months. Its shares have crashed form $17.39 a year ago this week to just $9.46.
It was worth $2.1 billion, but today is worth just $1.15 billion, a loss in value of $950M.
Last July the ABC’s 7.30 program ran several extremely damaging programs, concentrating on the fact Lifestyle Communities is the only land lease operator to require a DMF.
They lost 64 home buyers, who cancelled between 1 July and 31 October.
It reported 89 new home sales were completed between 1 July and 31 October, which means there was 71% cancellations to sales, which compares to 40% of cancellations to sales in the first six months of 2024.
Lifestyle Communities owns and operates 27 over 55s communities.
As we discussed in November, David Di Plla’s HMC Capital is circling Lifestyle Communities as a takeover investment. This could be good for AustralianSuper given its 20% holding.
Check out Lifestyle Communities over 55s resorts on sector's #1 website villages.com.au
