Lincoln Place has started construction on its $200 million Lincoln Lifestyle Northern Beaches project at Mount Low in Townsville, QLD. The 350-home land lease community will be delivered in stages over the next five years, with the first 30 homes due for completion by Christmas 2026.
Founded six years ago by Nick Collishaw and Ben Hindmarsh, Lincoln Place is backed by New York-based private equity giant Cerberus Capital Management. As reported last week by The Weekly SOURCE, the operator has engaged Goldman Sachs to assess strategic options, including a potential ASX listing or sale to a trade buyer or private equity investor.
Future stages of the development will deliver a clubhouse and extensive resort-style amenities, including outdoor and indoor pools, a cinema, gym, wellness centre, bowling green, pickleball courts, sports pavilion, BBQ and dining areas, and landscaped green spaces.
Meeting Townsville’s demand
Townsville’s ageing demographic provides a strong market backdrop, with nearly 40% of residents over the age of 50 – well above the national average of 21.5%.
Chief Executive Officer Paul Yeo said the response to the project has been positive.
“We exist to empower older Australians to live their best years and our vision at Lincoln Lifestyle Northern Beaches is to create a housing option for Townsville residents in one of the most constrained housing markets in decades,” he said.
“Over-50s lifestyle estates also facilitate people moving out of larger homes with typically a lot of unused bedrooms and freeing up that suppling in the broader housing market.”
The new estate is being built adjacent to the existing Sanctum community developed by the Maidment Group.
