Image 2

Stockland leaves retirement villages to build more land lease communities

33 minutes after announcing it was leaving retirement villages Stockland announced it was creating a new partnership with the huge Japanese real estate investment fund Mitsubishi Estate, to build a lot more land lease communities.

Together they intend to have $4 billion in development and sales over the next five years.

Stockland already had 10 land lease communities being built, plus last year they bought Halcyon’s land lease communities for $620 million.

Land lease communities are charging ahead. Home builder Mirvac also decided this month to move into the sector in a big way. See our story below.

Land lease homes sell to 55 to 70-year-old’s, while retirement village operators sell to 75+. They are a different market. LLCs also do not have any care in their offer – for now.

As long-time LLC operator Palm Lake Resort has had to do in its older locations, it has opened Aged Care homes next door.

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email