GemLife expands land lease pipeline to 10,400 homes with $21M buy
The greenfield site is located in Maidment Group’s Sanctum estate in Mount Low, 16km west of Townsville’s CBD.
The ASX-listed land lease operator has entered Far North Queensland with the $21 million acquisition of a 32.5-hectare greenfield site for over 500 homes.
The site is located in Maidment Group’s Sanctum estate in Mount Low, 16km west of Townsville’s CBD.
The Puljich family-owned land lease operator Living Gems has previously announced two partnerships with Maidment Group in Townsville: the 328-home Living Gems MacKinnon’s Reach and the 295-home Living Gems Harris Crossing. Our sister website villages.com.au lists 13 retirement villages in the city.
The announcement comes as Ingenia Communities also reveals a 300-home site in the city. Construction has started on the 350-home Lincoln Lifestyle Northern Beaches in Mount Low.
GemLife said the site is located within the city’s northern growth corridor and will benefit from major infrastructure works funded through the Queensland Government’s Regional Activation Fund, supporting improved road connectivity and long-term residential development.
Upon completion, the project will form part of GemLife’s portfolio of 33 communities nationally.
The acquisition will be completed in two stages, with settlements expected in March 2026 and February 2027 respectively.
Construction is anticipated to commence following settlement of the second stage, subject to development approval.
GemLife Managing Director and Chief Executive Officer Adrian Puljich said the planned project reflected continued demand for quality, well-located over-50s housing in regional growth markets.
“We have been looking for the right opportunity in Townsville and this site is ideal,” he said.
“Located in the fast-growing, sought-after Northern Beaches, its proximity to the CBD, airport, hospital and established lifestyle amenities make it a highly desirable place to live.”
GemLife, which was established in 2015 and listed on the Australian Stock Exchange (ASX) in July 2025, has a development pipeline of more than 10,400 homes and sites Australia-wide.
