The ASX-listed Sydney-based diversified property developer is still firmly focused on land lease development and its opportunities for revenue and growth.
Stockland’s latest missive states “sites are also being scouted in Western Australia”.
Earthworks are already underway on two new communities in Victoria to provide around 530 homes in total: Stockland Halcyon Evergreen (in Clyde, in Melbourne’s southeast) and Stockland Halcyon Horizon (at Armstrong Creek, located between Geelong CBD and Torquay). They are expected to launch on the market in mid-2023.
Two more Stockland Halcyon communities in Victoria are expected to come online in FY24: Highlands (in Craigieburn, in Melbourne’s north) and Stockland Halcyon Jardin (formerly St Germain at Clyde North, in Melbourne’s southeast).
Stockland is also building an over-55s land lease community at its master planned residential estate The Gables at Box Hills in Sydney’s Hills District – the first Stockland Halcyon for NSW. In Queensland, two new land lease communities Redland (in Brisbane’s southern bayside) and Providence (south of Ipswich) are under construction.
Halcyon Group was Tarun Gupta’s first buy when he became CEO of Stockland. He paid $620 million for 3,800 home sites across 13 land lease communities, comprised of Halcyon’s six established land lease communities, four communities in development and three projects in planning.
Richard Rhydderch, Executive General Manager Stockland Halcyon Communities, said as homeowners become more aware of the premium lifestyle available within Stockland Halcyon communities, demand has grown.
“We’ve strong sales across all our over 50s land lease projects, and 83% for FY24 are unconditionally exchanged. This also reflects the strong equity positions of these customers, and lower reliance on the traditional drivers of the broader residential market, including mortgage rates.”
