Property development company Stockland has acquired a 13 hectare site at Thompsons Road, Clyde North for $47.5 million, expanding its growing Victorian Land Lease Communities (LLC) portfolio.
The site is part of the local Precinct Structure Plan and identified for retirement living use.
The proposed new Stockland Halcyon community will be located within the St Germain Estate and adjacent to the future St Germain Town Centre.
Kingsley Andrew, Executive General Manager of LLC at Stockland said the acquisition adds to their portfolio of approximately 9000 LLC home sites across Australia.
“The Clyde North market is experiencing growing buyer demand with solid pricing Expectations,” Mr Andrew said. “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.”
Stockland Halcyon has two LLC projects in close proximity to the proposed community, including Stockland Halcyon Minta in Berwick which is under development and Stockland Halcyon Evergreen in Clyde which is in the planning stage.
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 15 kilometre radius of the proposed community,” Mr Andrew said.
“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.”
