Hometown to sell 11 of its 58 land lease communities, expecting $110M

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13 months after winning the purchase of Gateway communities, American land lease community operator Hometown has appointed CBRE to sell 11 of gateways 58 locations.

Hometown has identified that these properties are ‘non core’.

Their locations are:

  • Old Bar, NSW (Greenfield)
  • Evans Head, NSW (Greenfield)
  • Ballarat, VIC
  • Lakes Entrance, VIC
  • Sundown Villas, ACT
  • Myola, NSW
  • Manning Point, NSW
  • North Haven, NSW
  • Casino, NSW
  • Tweed (Shores), NSW
  • Tweed (Chinderah), NSW

Gateway was founded in 2009 and listed on the ASX in mid-2015 with 36 communities.

They now have 58 communities across QLD, NSW, ACT, VIC and SA, over 7,100 long-term-occupied sites and another 1,800 in development.

Last October Hometown paid $685 million for Gateway.

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