GemLife to spend $470M on new land lease projects

The ASX-listed land lease community operator will deliver 592 homes to Logan, Queensland’s fastest growing local government area, in the south of Greater Brisbane.

GemLife is committing $470 million across two new communities, with prices starting from $805,000:

• The $220 million GemLife Logan Grove in Chambers Flat will boast 282 homes and is being developed on a 20.35-hectare parcel in Logan’s south; and
• In nearby Heritage Park, a $250 million community will be created on 28 hectares, offering a further 310 homes.
• Each will have green open space and its own $15 million Country Club, alongside resort-style amenities including a pool, fully equipped gym, art studio, golf simulator and more.

GemLife Managing Director and Group CEO Adrian Puljich officially broke ground on both communities last week. He said Logan’s central position between Brisbane and the Gold Coast, along with new infrastructure and development in the region, had made it a popular choice for buyers.

“The significant development underway in Logan has attracted many young families to the region, leading to increased demand from Over 50s wanting to live close to their children and grandchildren,” Adrian said. 

“While Census data shows Logan’s median age of 34 is below the Queensland and Australian average of 38, almost a third of existing residents – 30% – are over 50, making communities such as this critical in providing housing diversity to this significant demographic.

“Giving Over 50s options to downsize is also important in opening more opportunities for new generations to secure established family homes in the region, with demand extremely high.”

Adrian said while GemLife Logan Grove and GemLife Heritage Park would offer residents the same level of amenity and lifestyle, each community had been designed with its own distinct character.

“Logan Grove will embrace a timeless, heritage-inspired design language across its master plan, reflected in the entry statement, country club and communal spaces, creating a warm and welcoming environment, while Heritage Park will present a refined contemporary Australian aesthetic defined by light, space and clean architectural lines across its shared facilities,” he said.

“There will also be extensive green space for residents to enjoy, with walking trails that wind throughout each site and dog run facilities for people to exercise their pets, encouraging residents to enjoy the outdoors and this fantastic part of South-East Queensland.”

Adrian said the popularity of land lease communities was growing exponentially, as buyers increasingly sought flexible alternatives to traditional retirement villages, with many now making the move earlier in life.

“The emphasis is really on the lifestyle – creating a place for over-50s to live alongside like-minded neighbours in a community where they can stay fit, healthy and active while ageing in place,” he said.

“We’re seeing more people make the move pre-retirement, while they’re still working full-time or part-time, because it is such easy and desirable living – and it’s suitable long-term.

"As they own their home and rent the land, they’re generally able to free up both time and capital, allowing them to focus on the things they love. Everything is looked after for them – the amenities, maintenance and management.

“As the homeowner, they benefit from any capital gain if they do decide to sell, and there's no entry fees, exit fees or stamp duty at any time, which are often associated with retirement villages.”