The largest private owner of retirement villages, land lease communities and aged care in Australia has gained support from the banks to accelerate its latest projects.
“It means we will grow exponentially and be able to operate at an even faster pace,” Managing Director Scott Elliott says.
Interestingly, Palm Lake CEO, Manuel Lang, was Palm Lake’s National Bank account manager before joining the group in 2012.
The developments include:
- Its 320-home Pelican Waters project – due to start civil work in early 2021 – will feature the Group’s first hotel – adjacent to the 140ha Greg Norman-designed golf course they purchased alongside the 20ha development site in December 2018.
Intriguingly, plans are also being made for a “very high-end”, 60-home separately gated enclave within the larger resort that Palm Lake anticipates will attract ‘snowbirds’ – people who would use their home in the community for the six warmer months of the year, similar to how wealthy Americans migrate to Hawaii, Mexico and the Caribbean.
- A 200-home community on a greenfield site at Paynesville, in Gippsland, Victoria, close to the town centre which is expected to begin construction at the end of 2021.
- A greenfield development with an 18-hole golf course at Old Bar Beach, near Taree, in NSW.
- A community at Forster Lakes (pictured above), which is already underway with the first stage of 44 homes and Country Club expected to be completed around May 2021.
Founded 43 years ago in Victoria by Walter Elliott, Palm Lake now has 25 communities across QLD, NSW and Victoria with 11,000 residents and 1,300 staff.