Lifestyle Communities’ profits up 35% – plans to acquire one to two sites a year

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The land lease developer notched up 347 sales and 319 settlements for FY2018 and is predicting trading conditions will remain strong on the back of the ageing baby boomer market and its ongoing product revolution according to its latest investor presentation.

The ASX-listed group has led to the Land Lease Community being accepted as an ‘investment grade’ property segment.

The group says it now plans to focus on acquiring one to two sites every year focusing on Melbourne and Geelong’s growth corridors.

Lifestyle’s Managing Director James Kelly says they also see increasing opportunities to buy super lots from land developers thanks for the softening housing market.

They have eight communities currently in planning or development plus eight existing communities.