MELBOURNE: Lifestyle Communities Limited has executed a Contract of Sale to purchase a site in St Leonards located on Victoria’s Bellarine Peninsula.
Settlement is expected to occur at the end of 2020 with construction anticipated to commence soon afterwards.
Managing Director James Kelly said, “St Leonards will be our second community on the Bellarine Peninsula and our fourth within the wider Geelong catchment. The site is well positioned close to the beach and town centre and will provide an affordable, active and engaging environment for baby-boomers to downsize on the Bellarine.”
As a result of this acquisition, Lifestyle Communities’ portfolio will increase by approximately 170 home sites to 3,730, which includes sites in planning, development or under management.
Based in Melbourne, Victoria, Lifestyle Communities develops, owns and manages affordable independent living residential land lease communities. Lifestyle Communities has nineteen residential land lease communities in planning, development or under management.