Land lease provider buys Wangaratta site
Over 50s land lease community provider Lincoln Place has snapped up a site permit-ready for a 227-lot subdivision in Wangaratta’s Wangandary.
The end value for the project, on 16.3 hectares at 126 Lindner Road, opposite the Respect St John’s facility, is expected to circle $120m.
The property previously traded in April, 2022, for $3.55m.
That buyer, Wangaratta Lifestyle Estate Pty limited, obtained the redevelopment permit.
Lincoln Place will add amenities including a wellness centre, heated pool, lawn bowls green and pickleball courts.
There will also be a community garden.
Completion is scheduled at the end of next year.
It will be Wangaratta’s first land lease project.
The deal comes five months since Lincoln Place outlaid $8m for a South Gippsland block with plans for a 209-lot land lease community.
Established in 2018, the group now has 23 communities, in New South Wales, Queensland, Victoria and the ACT, housing some 3000 people.
Subscribe to our newsletter at the bottom of this page.
