GemLife buys eight land lease communities
GemLife, which listed on the ASX July 3, has bought land lease community developer Aliria.
The $218 million deal includes eight projects in New South Wales and Queensland.
All up, these should yield c2200 homes.
GemLife was founded in 2015 by Thakral Capital and Adrian Puljich the latter who last year established Aliria.
Four more Aliria projects under option
Following settlement, GemLife will hold 228 LLC, in New South Wales, Queensland and Victoria, able to yield c8700 dwellings.
It is buying four more from Aliria – one tranche expected to settle in about 12 months, the other, in 2030/2031, including one in South Australia.
These could accommodate c1125 homes.
Portfolio boost
GemLife has already rebranded a Rockhampton project – set to open September, with 57 dwellings – from Aliria on Dean to GemLife on Dean.
The other developments are in Burnett Heads, Clarence Valley, Kilcoy, Sunshine Coast and Toowoomba.
Two sites are in Logan, a south Brisbane growth corridor.
They are spread across a medium-term development period, early planning, awaiting approval or permit-ready.
Subscribe to our newsletter at the bottom of this page.
