This article is from the Australian Property Journal archive
DEVELOPER Adrian Puljich has launched the first over-50s community in his $500 million Aliria portfolio, which will be spread across a 2.5-hectare site in Rockhampton.
The boutique $32 million land lease community, named Aliria on Dean, is also the first land lease community to be released in Rockhampton in more than a decade.
Designed for over 50s seeking resort-style living close to urban amenities, it will feature 57 three-bedroom duplex homes priced from $565,000, located on Dean Street in Berserker, six kilometres from central Rockhampton, and bounded by picturesque Frenchmans and Moores creeks.
About 5,000 sqm will be dedicated to open space, with facilities to include a clubhouse with an outdoor pool with sundeck, gym, hall and bar, pickleball court, barbecues, dog run, and RV parking.
Development approval has been received and civil construction will kick off in the coming months, and home construction by the end of the year.
Puljich, who also heads the successful GemLife and Living Gems businesses, officially launched Aliria last month. New communities to be released in Bundaberg, Toowoomba and Kilcoy by late 2025.
“There is a shortage of over-50s living in the region, particularly in areas close to the city, existing amenities and homes, allowing downsizers to stay in the neighbourhoods they love,” Puljich said about Aliria on Dean.
“Land lease communities have become hugely popular because they remove the entry and exit, deferred management and capital gains fees that come with retirement villages,” he said.
Rockhampton agent Pat O’Driscoll, director of Pat O’Driscoll Real Estate, is managing sales for Aliria on Dean and is tipping “enormous” demand.
“I’m anticipating interest from the Capricorn Coast right through to Longreach, particularly retirees and those wanting to be in a major regional city and close to an airport that connects to the capitals,” he said.
“It has a lovely backdrop of the Berserker Ranges and is on a major arterial road connecting to the city, shopping, sporting facilities, pools, the racecourse, cricket ovals and the coast.”
The land lease sector is attracting growing investment. The Lowy family-backed Assembly Funds Management announced last month announced it would move into the sector, kicking off with two sites in Victoria and aiming to have more than 10 communities worth over half a billion dollars.
ASX-listed heavyweight Stockland is reweighting its portfolio in part towards land lease communities, and rival Mirvac has made a play into the sector, while in June, Gaw Capital Partners and GreenFort Capital formed a joint venture to acquire and develop an $800 million pipeline of land lease projects.
