Serenitas takes first step into Victoria, more to come
The Weekly SOURCE reported earlier this month that the land lease community operator had moved its Thyme brand into Victoria.
Thyme Ocean Grove on the Bellarine Peninsula, 98km southwest of Melbourne’s CBD, will feature 205 lifestyle lots, The SOURCE reported on 9 Marc.
The 7.95-hectare site was acquired from Lifestyle Communities for $46 million, with infrastructure largely completed. Serenitas Chief Executive Officer Von Slater said the site would be the company’s flagship Victorian community, setting the benchmark for future projects.
Further detail on those projects – a 766-home state pipeline – has now been revealed.
Victoria is expected to become a key growth market within five years, as the company builds out a multi-community pipeline alongside its national portfolio.
Two additional Victorian communities are already secured, and further opportunities are under active assessment.
Von echoed comments by GemLife Managing Director and Chief Executive Officer Adrian Puljich, stating the $12 billion land lease sector is rife for consolidation.
“Consolidation is a natural evolution of a scaling sector. Greater scale supports stronger governance, consistent delivery and a better resident experience,” she said.
“At the same time, we’re continuing to create new communities from the ground up through our Thyme brand, ensuring design quality and liveability remain front and centre.”
Serenitas, owned by Mirvac (40%), Pacific Equity Partners (40%), and Tasman Capital Partners (20%), manages the land lease community brands Thyme Lifestyle Resorts, National Lifestyle Villages, The Anchorage Lifestyle Resort, Lucas Lifestyle Estate, Tuart Lakes Lifestyle Resort, The Vantage Lifestyle Resort, The Outlook Lifestyle Resort, and RV Homebase Fraser Coast.
