Stockland secures another Melbourne LLC site

Zoned for a retirement community, the 13.15 hectare block was marketed as St Germain Village.

Stockland has snapped up a piece of the St Germain housing estate with plans for a Land Lease Community.

The 13.15 hectare block on Thompsons Road, Clyde North, opposite a proposed town centre, is setting the group back $47.4 million.

About 278 homes, a clubhouse and recreation facilities are planned as part of a Halycon branded asset.

The proposed St Germain Town Centre is next to the Stockland Halcyon site.

Colliers’ Trent Hobart, Robert Papaleo and Michael Gardiner marketed the block, part of a Campbell Park Property Developments project, 55 kilometres south east of Melbourne.

The deal comes 18 months since Stockland paid $180m for a 130.7ha Clyde North farm, earmarked for a traditional housing estate.

Stockland grows Halcyon

Stockland acquired the business and portfolio of over-50s community developer and investor Halcyon for $620m last July, giving it access to an additional 3800 LLC sites.

Under the LLC model, residents purchase their homes outright and pay a site rental fee which covers council rates and access to occupant-only facilities (story continues below).

In Melbourne, Stockland holds two assets under this brand, all in the outer south east, they are Halcyon Minta at Berwick, which is under construction, and Halcyon Evergreen at Clyde, which is in planning.

“The Clyde North market is experiencing growing buyer demand with solid pricing expectations,” Stockland Land Lease Communities executive general manager, Kingsley Andrew, said of the latest purchase.

“The established St Germain estate provides a perfect opportunity for a Stockland Halcyon community,” he added.

“There is an estimated target population of about 87,000 people aged over 55 within a 15km radius of the proposed community,” according to the executive.

“With several other retirement living and LLCs in the area, we believe there is an excellent opportunity to create a thriving LLC that becomes the fabric of Clyde North”.

Nationally, Stockland controls 9000 LLC sites, many in planning.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of