Financial services company enters land lease community sector

The investment in the land lease sector – now valued around $12 billion – continues to gather momentum.

ASX-listed Aland Equity Group, which operates a diversified funds management business, is destined for a serious dip into the sector.

The Group has launched Villa Estate in Bungendore, a town in the NSW Southern Tablelands, which will feature 40 independent living villas for over 55s when complete. The first residents have already moved in.

Chairman Alex Brinkmeyer, a veteran property developer once dubbed the “Landlord of Canberra”, revealed last Thursday (7 May) that he owns land in Cowra, a town in the Central West of NSW, where he wants to build a similar Over 55s community.

“In Cowra, we’re working very closely with Council. We’re teaching Council a lot. They’re working with us,” he told News Corp.

“That’s what you want. You want people to be supportive of what you’re doing, because of what it will do. It will bring a lot of income to the town.

“I’ve owned land in Cowra for some time, it must be 15-20 years or longer, next to the Cowra Breakout and Japanese Garden. I’ve always loved that parcel.”

Aland Equity Group has disclosed that it is in advanced talks with Southern Rural Holdings, an entity linked to Alex Brinkmeyer, over a proposed property funding arrangement to underpin its push into property funds management.

Under the proposal, a wholly owned subsidiary would establish and manage wholesale property funds aimed at acquiring and developing land lease communities and related residential projects in Cowra.

Aland Equity has a market capitalisation of $72.72 million.

“We’re on a very good course for the next decade or two … The end result is housing for people,” Alex said.

“There’s a big, big market in downsizing and very short supply. And our prices will be competitive,” he said.

“We’re working with a very astute building firm, Burbank, to build in Cowra. We’ve working with Burbank for a number of years.”