CEO James Kelly is excited by his new Bittern land lease community development located on the Mornington Peninsula (VIC).
Pre-sales commenced 12 months ago and they have received firm deposits one approximately 190 of the 208 available sites. This is without the benefit of a community facility which has just commenced construction. The first residents move in next week.
Kelly states they are tapping into the baby boomer downsizing shift, the average new residents’ age being 67.
Buyers pay a $1,000 holding deposit which is increased to $5,000 when they sign a contract and is non-refundable. They provide a Smart Buy Guarantee which allows residents to exit fees in the first 12 months.
(Kelly claims less than 1% of their deposits fall over).
Lifestyle Communities has its Hastings product located just 3km away which Kelly claims is a great reference site.
They are on track to settle 310 to 320 homes for FY18, compared to the previously advised 260 to 290 homes.
They now have 16 communities and nearly 3,000 home sites across Victoria.