A new land lease business, aiming for two to four hectares of land for 50 to 100 homes, has been launched by newcomers Cecelia Hund and James E. Kelly, the nephew of the Co-Founder and former Managing Director of Lifestyle Communities.
Hamlet Living officially launched on Friday, 30 May. James Kelly, who founded Lifestyle Communities in 2003 and served as Managing Director following its ASX listing in 2007, will chair the new venture. Under his leadership, Lifestyle Communities grew to 33 land lease communities and more than 5,500 residents.
James E. Kelly told the Weekly SOURCE that the new operator is looking to seed with "two or three sites" in metropolitan Melbourne and regional Victoria. He said the homes would be affordable, pitched below the suburb's median price, and would operate on a DMF model, similar to Lifestyle Communities.
Cecilia Hund said there are three factors that set Hamlet Living apart:
"First, our Hamlets are small and curated. Where traditional land lease communities can be sprawling and impersonal, our Hamlets are purposefully small, just 50 to 100 homes. This creates a more tightknit community and a greater sense of belonging for homeowners. It also allows services and experiences to be more tailored, and a community which is more grounded to a local area. We chose the word ‘Hamlet’ because it speaks to this: a small, close-knit community, and part of a larger local identity.
"Second, we are thoughtfully designing for the next generation of homeowners. The customer context is evolving and the needs of downsizers are changing. Gen X (45 to 60 years) have different expectations around retiring – they are instead rewiring – and are more time poor than previous generations. Hamlet Living gives Gen X the opportunity to do more of what matters to them.
"Third, we have a management team who thinks differently. We are a small and passionate team, with a long term management focus. James E. Kelly is a property specialist, from a construction, development and funds management background, most recently a Director of boutique property funds management group Forza Capital. He will be responsible for acquiring, financing and building the highest quality land lease communities on the market.
"I am a brand, strategy and customer specialist – focused on putting the customer experience back at the heart of the land lease offering. I bring a challenger mindset and fresh thinking to reshape how the Hamlet communities will be developed, marketed and lived in.
"James Kelly has come on as our Chair, and brings a wealth of knowledge having founded Lifestyle Communities 22 years ago."
Watch this space then.
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