- Lifestyle Communities continues to increase its lifestyle portfolio, today announcing a second land acquisition in Victoria’s Bellarine Peninsula
- Located in St Leonards, Lifestyle’s new lease will add 170 home sites to their current residential offering
- The ASX-listed company estimates contract settlement will occur by the end of 2020, with construction at the sight set to commence soon after
- Stocks in Lifestyle are currently trading for A$8.06 apiece, down 0.86 per cent at market close AEDT.
Lifestyle Communities continues to increase its lifestyle portfolio, today announcing a second land acquisition in Victoria’s Bellarine Peninsula.
Located in St Leonards, Lifestyle’s new lease will add 170 home sites to their current residential offering.
The company has already acquired two new land leases this year, and the second Bellarine acquisition will bring the company’s total number of sites (including those in planning, development or under management) to 3 370.
The ASX-listed developer estimates contract settlement will occur by the end of 2020, with construction at the sight set to commence soon after.
“St Leonards will be our second community on the Bellarine Peninsula and
our fourth within the wider Geelong catchment,” said Lifestyle managing director James Kelly.
“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,” James stated.
Lifestyle is a Melbourne-based development agency who owns and manages residential lifestyle communities. Currently, the company oversees a portfolio of 19 communities across Victoria.
Stocks in Lifestyle communities traded down slightly on the ASX today following news of the acquisition. The company’s shares are currently trading for A$8.06 apiece, down 0.86 per cent at market close AEDT.
Lifestyle boasts an estimated market capitalisation off A$849.9 million.