This article is from the Australian Property Journal archive
ASX-listed Lifestyle Communities will add another 160 homes and new community facilities to its St Leonards offering in Victoria after acquiring a land parcel adjoining its existing development.
The new parcel will extend the community to 360 homes and allow for the construction of facilities that will complement the existing clubhouse and sporting precinct.
Managing director, James Kelly said, “the acquisition is an exciting opportunity for Lifestyle Communities to continue to leverage our strong brand on the Bellarine Peninsula, an area that is experiencing strong growth”.
“Sales at our St Leonards project have exceeded our expectations and the additional land will allow us to add some more facilities to broaden the offer to the market.”
The acquisition is due to settle in the middle of 2022 and construction will be sequenced with the site’s existing construction program.
As a result of the purchase, the group’s portfolio will increase to 4,834 home sites, including those in planning, development or under management.
