Property developer DevCore has revealed a pipeline of at least 1,200 land lease homes, to be delivered across six future communities in New South Wales and Queensland.
Founded by former Rawson Homes executives Peter, Lawrie and Mark Rawson, DevCore specialises in partnering with landowners to develop residential communities through acquisition services and development management.
The group now holds six masterplanned projects with a total pipeline of over 5,500 homes nationally – and land lease is becoming a key part of that future.
Among its land lease pipeline, DevCore is proposing:
- Coral Cove Ocean Estate (pictured below) – a $1.1 billion, 220-hectare beachfront community near Bundaberg, 323km north of Brisbane. With development approval now secured for its 1,600 homes, two designated sites are earmarked for land lease.
- Rowan Village (site pictured above) – a $2.5 billion, 220-hectare community in Wagga Wagga, NSW, 53km southwest of Sydney. With in-principle council support secured, plans are progressing for two further land lease sites within the 2,100-home development.
Other prospective land lease opportunities are being considered for:
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One of DevCore’s Caboolture projects in Queensland.
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A site adjoining its 104-acre, 283-home Blakelys Run project in Goulburn, 192km southwest of Sydney.
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A potential new coastal NSW masterplanned community, which could further expand its land lease portfolio.
Speaking to The Weekly SOURCE, DevCore Managing Director Paul Thompson said land lease communities were a natural fit for large-scale residential projects.
“We find that land lease villages are a very compatible product within masterplanned communities,” he said.
“The villages also provide additional demand and assist in earlier delivery of social and community infrastructure – including shops, cafes, services and hospitality.”
Paul confirmed the group is currently assessing whether to partner with established operators or manage the land lease developments in-house – with a decision expected within the next three to six months, pending project approvals.
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