Nexus Development has become the latest group to enter the $12 billion land lease sector, with approval now secured for its first community in regional Victoria.
The 80-home Nexus Life Shepparton project, in Shepparton North – 181km north-northwest of Melbourne’s CBD – has received the green light from Greater Shepparton Council. The development has a gross realisation value of $36 million and will feature modular housing tailored for downsizers.
Nexus is a major property development company with a $340 million pipeline and more than 20 years’ experience across residential, commercial, healthcare and education projects.
Managing Director Vish Singh said the decision to diversify into land lease communities as part of its strategy to move beyond traditional residential developments.
The company is entering a competitive local market: Lifestyle Shepparton by Lifestyle Communities, Kensington Gardens Shepparton, Park Lane Living Shepparton and Freedom Place Kialla are already established in the region.
