Two newcomers target Australia’s booming land lease sector
- New players: Hamlet Living and Veritas enter the sector
- Hamlet launches: First boutique community unveiled in Lilydale
- Veritas buys: Approved 149-home project in Bundaberg
- Momentum builds: Investment continues to flow into land lease
Australia’s $12 billion land lease sector continues to attract new investment, with two players announcing plans to enter the market.
Hamlet Living, first revealed by The Weekly SOURCE in May last year, has unveiled plans for its first “pioneering community”.
Founders Cecelia Hund and James E. Kelly, the nephew of Chair James Kelly, the Co-Founder and former Managing Director of Lifestyle Communities, have previously said that Hamlet Living will offer small land lease communities of 50 to 80 homeowners.
The first venture is Hamlet Lilydale, 34km east of Melbourne’s CBD. The site neighbours a park and Lillydale Lake which span 100 hectares of parkland.
Meanwhile, Veritas Property Group, founded by Adrian Mastronardo, has been revealed as the purchaser of an approved 149-home land lease community in Bundaberg.
The 7.34-hectare Thabeban site, sold by Colliers and Ray White, has advanced development approval for 149 homes across six architectural designs at a capital outlay of $96.8 million.
Adrian is described as passionately committed to making affordable homeownership a reality for more Australians.
The land lease sector has seen a wave of newcomers in recent years including Adland Equity Group which announced its launch last month and MHE Development which secured its first site last August.
