Serenitas has acquired Lifestyle Communities’ 205-lot Ocean Grove site (pictured) on Victoria’s Bellarine Peninsula for $46.2 million, below its 30 June book value of $54.8 million, with infrastructure works largely complete.

In a 1Q26 Operational Update on 22 October, co-owner Mirvac said Serenitas is also in advanced due diligence on two additional sites totalling 708 lots, putting the portfolio on track to exceed 8,400 lots.

Operational momentum remains strong: Serenitas recorded 86 settlements and 143 sales in the quarter – up 60% on 1Q25 – lifting occupied sites to 5,065.

The average settlement price rose 12% on FY25 to $619,000, with average net leasing spreads of 9% on resales and a 3% increase in average passing rents since June 2025.

The group has also opened the sales office for Thyme Lifestyle Resort Palm Cove, a new over-50s land lease community in North Queensland.

Mirvac and Pacific Equity Partners Secure Assets agreed in October 2023 to acquire 47.5% each of Serenitas in a $1.01 billion deal, with CEO Rob Nichols’ Tasman Capital Partners retaining 5%. Mirvac settled its investment in March 2024.

The transaction granted Tasman an option to lift its stake to 19.99%, diluting Mirvac and PEP to 40% each; The Weekly SOURCE reported in September 2024 that Tasman Capital Partners intended to exercise that option.