Land lease delivers for Stockland – 25 sales in five weeks

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Australia’s largest residential home developer has achieved 25 sales in the first five weeks of its first land lease community going on sale.

As we reported here, ‘Thrive Nirimba’, located within its $5 billion Aura community near Caloundra on the Sunshine Coast, only began construction in October last year, and commenced sales in late February.

Once complete, the new development will consist of 244 homes and community facilities built on its 2,400ha AURA site and LLC homes within the first stage will be sold for around $100,000 less than surrounding homes.

The marketing places an emphasis on no stamp duty or exit fees, a direct reference to retirement village competitors (including Stockland itself, with two villages in the Caloundra area).

New business model – LLCs part of planned community

Placing the LLC option within the $5 billion Aura broadscape development expands its product mix to five, positioning its option to buy a new LLC home and leasing the land alongside buying land only, a land and house package, a townhouse or buying an existing pre-built home.

The LLC option is the lowest cost and comes with its own Thrive community centre and village community activities.

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About Author

Chris has been a journalist and weekly commentator on the retirement village and aged care sectors for 15 years. He has interviewed residents and management at over 250 villages nationally, plus visited aged care homes across the country and studied homes and management in America and Africa. As Co-founder of The DCM Group, he has guided the business growth and is a sought after advisor to operator boards and management.