GreenFort buys site for modular home estate
GreenFort Capital has bought a major Northern Rivers site with plans for a modular home estate.
The Brisbane-based asset manager paid $11.35 million ex-GST for 805 Ballina Road, Goonellabah, about five kilometres east of the Lismore CBD.
The 12.22 hectare site was sold under instructions from receiver and manager Newpoint Advisory.
JLL’s Harrison Katsanevas and Liam Petersen, with Ray White Special Projects’ Tony Williams, Mark Creevey and Matthew Fritzsche, were the agents.
Double the dwellings
The Ballina Road block was offered with a permit approved five years ago for a 92 lot subdivision, an estate branded Platypus Park.
A former proposal – dubbed the hobbit homes project – in partnership with Green Magic Homes founder Glen Stevenson, was for 90 dome-shaped, earth-sheltered homes integrated into the hillside (continues below).
GreenFort is instead planning a land-lease community, lodging plans for 200 dwellings.
It bought the asset following a campaign launched last April.
The acquisition is via the over-50s Liven platform, controlled with Gaw Capital, earmarked to hold c$800m of product.
In 2024 we reported the pair acquired a Gympie asset with 26 dwellings from the RSL.
GreenFort and Gaw also control a retirement living business, Reside Communities, with more than 1,000 dwellings worth about $1 billion.
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