Serenitas’ Thyme brand moves into Victoria after $46M land buy

The land lease community group, jointly owned by Mirvac, Pacific Equity Partners and Tasman Capital Partners, is taking its Thyme brand into Victoria.

Thyme Ocean Grove on the Bellarine Peninsula, 98km southwest of Melbourne’s CBD, will feature 205 lifestyle lots. 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.

“We’re seeing continued uplift in inquiry and growing buyer awareness across Victoria, particularly from downsizers who are feeling housing affordability pressures and looking for smarter alternatives,” Von said.

“There’s a clear preference emerging for low-maintenance, lifestyle-focused living, and increasing acceptance of the land lease model as a secure, long-term housing option. For many people, it offers the right balance of financial confidence and community connection.”

The first homes are slated to be finished from August this year, with the project due for final completion in four to five years, depending on sales volumes.

The site neighbours Ryman Healthcare’s Deborah Cheetham Retirement Village.