01 December 2015

Media Release

Stockland today marked the start of construction on its $27 million expansion of Lightsview Retirement Village - the company’s first greenfield retirement living development in South Australia. 

Special guests, Mayor Gary Johanson, City of Port Adelaide Enfield, and John Hanlon, CEO of Renewal SA joined Stephen Bull, Group Executive and CEO of Retirement Living at Stockland, for an event at the village to turn the first sod.

“As one of Australia’s top operators in Retirement Living, with over 11,000 residents living in 69 Stockland villages across Australia, we’re consistently striving to offer our residents the highest possible standard in retirement living. We’ll continue to improve year on year and offer our residents ‘a better way to live’.”

Stockland has responded to strong demand from the growing number of retirees in South Australia who want to buy a low maintenance, well appointed, self-contained home. South Australia has one of the strongest retirement living markets in the country with the highest penetration of over 65s living in retirement villages at around 8.5 per cent.

Stage One of the expansion of Lightsview Retirement Vilage has already proved to be extremely popular with 21 of the first 33 two bedroom plus study homes selling off the plan in a matter of weeks. Prices for new homes at Lightsview Retirement Village range from $417,000 to $470,000*

Stephen Bull added: “The interest in the Lightsview redevelopment has been very strong with over 60% already sold. This reflects the attractiveness of the region and the demand for quality Retirement Living options in this part of Northgate, just 8 kilometres north of the Adelaide city centre.”

The Lightsview Retirement Village development will take place on a vacant 4.2 hectare site, with Stockland carefully staging construction to minimise disruption to current residents.

The first stage includes 33 new homes (selling now) and a new 550 square metre multi-purpose Clubhouse. A further 42 homes and apartments will be completed in following stages.

The $27 million expansion of Lighstview Retirement Village is being delivered in partnership with Renewal SA as part of a broader urban infill precinct in Adelaide’s north east. The village is integrated within the thriving Lightsview master-planned community - one of Adelaide's newest suburbs, located just eight kilometres from the city centre.

The community features 15 hectares of public reserves and green spaces all interlinked with walking trails, manicured gardens and recreation areas. The village is also well connected with excellent local public transport and a recently completed 110-bed Helping Hand Aged Care facility across the road and the Northgate shopping centre only 600 metres away.

City of Port Adelaide Enfield Mayor, Gary Johanson, said: “As Mayor of one of the state's largest councils I am continually reminded in my travels of the ageing of our population and indeed their strong desire to live out their lives as close as possible to where they have lived in our community in the past.

Developments such as this, by such a highly regarded developer as Stockland, goes a long way towards fulfilling our aging residents' desires. Congratulations from myself, my fellow councillors and the City of Port Adelaide Enfield for your vision and commitment to the residents and their needs.”

The start of construction at Lightsview Retirement Village follows Stockland’s acquisition of eight South Australian retirement villages from Masonic Homes in June 2015. Lightsview Retirement Village was part of the portfolio of villages acquired.

Stephen Bull said: “We are very pleased to be making a significant investment in
South Australia. Our new and expanded Lightsview Retirement Living community
will not only benefit our current residents with greater amenity in the short term, but
it will also benefit future residents looking for a modern, low maintenance homes
within a very friendly and social village.”

About Stockland
Stockland (ASX: SGP) was founded in 1952 and has grown to become Australia’s largest diversified property group – owning, developing and managing a large portfolio of shopping centres, residential communities, retirement living villages, office and industrial assets. Stockland was recognised by the S&P Dow Jones Sustainability Indices (DJSI) as the as the global real estate sector leader for 2015-16, demonstrating world leadership across the areas of stakeholder engagement, customer relationship management, supply chain management, biodiversity and climate change strategy. Stockland was recognised as the Regional Sector Leader for Listed, Australian, Diversified Property Companies in the 2015 GRESB Report.
www.stockland.com.au

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