Over 50s lifestyle community developer Halcyon announced it will expand its business interstate for the first time after being founded in south east Queensland in 2004.
Expecting to turn over $100 million in revenue this financial year the developer feels it is time to expand its portfolio after establishing 10 land lease communities in south east Queensland.
Joint Managing Director Dr Bevan Geissmann (pictured above) told The Courier Mail it was a trip to the United States where he saw the benefits of ‘multifaceted lifestyle communities’ which prompted the move to expand the company.
“When we launch that 10th community, we will have an immediate pipeline of 1200 homes which gives us a fair few years in SEQ,” Dr Geissmann said.
“SEQ (South East Queensland) has been a great patch but we think there is a broader market for what we do. We see great opportunities in NSW and Victoria.”
Despite its intentions of moving interstate Dr Geissmann said Halcyon still had some new ‘mega’ developments in south east Queensland.