This article is from the Australian Property Journal archive
LIFESTYLE Communities has acquired a site located in Pakenham in Melbourne’s south-east.
This acquisition, which is conditional on Lifestyle Communities being issued with a suitable planning permit, will allow for the construction of 170-180 homes and will be the company’s 20th community.
Managing director James Kelly said: “We are pleased to announce the acquisition of a new site in Melbourne’s rapidly expanding south-east growth corridor where Lifestyle Communities has established a well-known brand.”
As a result of the Pakenham acquisition, Lifestyle Communities’ portfolio will increase by approximately 175 home sites to 3,960 which includes sites in planning, development or under management.
Land settlement is expected to occur during the first half of 2022 with construction anticipated to commence soon after.
