Who’s eyeing a 430-site land lease community in 2026?

Sun Country Lifestyle Park spans 17.27 hectares in Mulwala, a town situated on Lake Mulwala, in the NSW Riverina.

The community, which is up for sale, generated a FY25 gross revenue of $1.54 million with an adjusted net profit of $921,000 and is underpinned by recurring income streams from annual rentals and resident site fees.

Sun Country Lifestyle Park has 430 sites, including land lease lots, annual cabins, and short-stay accommodation, with two swimming pools, BBQ areas, games rooms, and boat storage.

Ingenia Communities announced it acquired Sun Country Lifestyle Village for $7 million in February 2014. At the time, they had 34 permanent homes, 200 annual cabins, 20 tourist sites and three powered camp sites.

The site has DA approval for 139 additional sites across two locations (103 permanent homes and 36 short-stay cabins), enabling staged expansion or repositioning to suit an incoming purchaser’s strategy.

CBRE National Director Sandro Peluso said: “Given the price point and longer term upside associated with the park it’s clear it’s more suited to syndicates and high net worth privates (specifically family offices).

“All things consider this is still a niche asset class so shortlisted groups are down to two-to-three parties which is fairly standard for an asset of this nature.

“The trophy new parks (Stockland, Ingenia etc are those that still have the largest level of engagement).”

GemLife CEO Adrian Puljich has predicted the $13.5 billion land lease sector will consolidate over the next decade as scale becomes crucial, leaving just three large listed companies developing and operating housing for seniors.