Stockland has acquired a 13 hectare site at Thompsons Road, Clyde North for $47.5m to further expand its growing Victorian Land Lease Communities (LLC) portfolio.
Located approximately 55km southeast of the Melbourne CBD, the proposed new Stockland Halcyon community will be located within the masterplanned St Germain Estate and adjacent to the future St Germain Town Centre.
The site is part of the local Precinct Structure Plan and identified for retirement living use.
Kingsley Andrew, Executive General Manager of Land Lease Communities at Stockland, said the strategic acquisition adds to Stockland’s portfolio of approximately 9,000 LLC home sites across Australia.
“The Clyde North market is experiencing growing buyer demand with solid pricing expectations.
“The established St Germain Estate provides a perfect opportunity for a Stockland Halcyon community in this growth corridor with access to Melbourne.
“Subject to planning approvals we anticipate delivering approximately 278 home sites with a clubhouse and recreational facilities,” Mr Andrew said.
Stockland Halcyon has two LLC projects in close proximity to the proposed community, including Stockland Halcyon Minta in Berwick (under development) and Stockland Halcyon Evergreen in Clyde (in planning).
The LLC model allows customers to purchase their new home outright with no entry or exit fees and pay a site rental fee which covers council rates and includes access to modern community facilities for all homeowners.
“There is an estimated target population of around 87,000 people aged over 55 within a 15km radius of the proposed community. With several other Retirement Living and LLC communities in the area we believe there is an excellent opportunity to create a thriving LLC community that becomes part of the fabric of Clyde North.
“Our land lease communities offer our residents an active lifestyle in a quality community with access to great recreational facilities,” said Mr Andrew.
Stockland anticipates completion in February 2023 with construction due to commence in 2023.