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.