The land lease community operator continues its rapid expansion.

Three months after kicking off construction on the 193-home Thyme Lifestyle Resort Rothwell in Moreton Bay, Queensland, Serenitas has launched Thyme Lifestyle Resort Palm Cove, in the coastal suburb of Cairns.

Serenitas has rolled out a website for the community, which will feature 360 homes and a clubhouse. In its 1H25 financial report, part-owner Mirvac had included a graph of Serenitas' development pipeline which included the then-unannounced resort at the former Paradise Palms Golf Course located at Kewarra Beach.

Mirvac officially settled its investment in land lease operator Serenitas in March, following last year’s $1.01 billion deal with Pacific Equity Partners to each acquire 47.5% of the business.

However, Managing Director Rob Nichols’ Tasman Capital Partners has since exercised its option to dilute Mirvac’s stake to 40%, retaining a greater share of the fast-growing land lease operator.

A Sales and Information Centre is opening soon on the Palm Cove Esplanade and construction on site is already underway.

Serenitas is also holding a grand opening for its display homes at Thyme Lifestyle Resort Canungra, 30 minutes' drive from the Gold Coast, on Tuesday 5 August.