Three months after Stockland broke ground on stage one of its first LLC, ‘Thrive Nirimba’, located within its $5 billion Aura community near Caloundra on the Sunshine Coast, interest continues to grow from prospective residents.
General Manager of Stockland’s Thrive lifestyle communities, Kingsley Andrew, said the interest hadn’t surprised his team because the development offered an alternative for prospective residents.
“Our lifestyle communities enable customers to purchase their home outright with no entry or exit fees,” Mr Andrew said.
Once complete the new development will consist of 244 homes and community facilities built on the 2,400ha site and homes within the first stage will be sold for around $100,000 less than median price.
Currently the median asking price for a three-bedroom home in Caloundra is around $615,000 according to Domain.
Nirimba is part of Stockland’s lifestyle community’s business, now with more than 3,000 home sites across Australia – while its DMF projects are being phased out as it realigns towards LLCs.