Community Living Topic - Community Living

Carracher says no to Lincoln Place, weighs $1.5B Aveo Timberyards

by Ian Horswill

Published February 24, 2026

Carracher says no to Lincoln Place, weighs $1.5B Aveo Timberyards — The Living Company’s Co-Founders and Joint CEOs Craig Carracher (pictured left) and Stephen Gaitanos (right)

The Living Company Co-Founder and Joint Chief Executive Officer Craig Carracher AM was present at the announcement that his business had secured development approval for 1,166 Build to Rent homes.

Building work will start on the $1.5 billion 2.2-hectare Marrickville Timberyards precinct in Sydney's Inner West this month.

The site marks the first to be acquired by The Living Company for a Build to Rent fund that includes Dutch pension fund APG, property manager Bouwinvest and Korean pension fund NPS.

A concept image of the Marrickville Timberyards’ Build to Rent scheme

The development will deliver 1,166 purpose-built rental homes across seven buildings, offering a mix of studio, one-, two-, three- and four-bedroom single and double-storey apartments.

The precinct will feature 10,200sqm of new public open space, activated by high-street retail, co-working spaces and community amenities.

“There will be an affordable housing allocation of 100 apartments,” Craig said.

“In addition, we are engaged in discussions around specialist disability accommodation solutions. We are also considering, given the acquisition of Aveo, the possibility of a retirement or seniors housing piece within the 1,166 apartments.”

Brookfield Asset Management sold the retirement village operator Aveo for $3.85 billion to The Living Company (then Scape Australia) and co-investor South Korea’s National Pension Service in June last year. Craig then revealed the true cost was nearer to $4.5 billion.

The Living Company to bid for Lincoln Place?

Craig was blunt after being named as a potential purchaser of the land lease community business Lincoln Place, which is currently seeking a buyer or a possible IPO.

“We’re not about to buy Lincoln Place,” he said.

“We haven’t done the work on that.”

He did not rule out extending its reach into the sector, but noted many existing land lease businesses were located in regional areas, rather than the urban locations that were the focus of his company.