Lincoln Place has announced the acquisition of a 31.25-hectare site in Yeppoon on Queensland’s central coast as the national over-50s community provider accelerates its east coast growth plans.
The site at 73 Limestone Creek Road in the suburb of Inverness was acquired for $14.035 million with planning approval in place for a master-planned 401-lot lifestyle estate – the largest in a region known as the gateway to the Keppel Islands and Great Barrier Reef.
Lincoln Place Chief Executive Officer Paul Yeo said the group had been actively growing its Queensland portfolio over the past six months, including a 350-lot estate in Townsville that would break ground in the coming weeks.
“Almost 28 per cent of Queensland’s population is aged over 55* and there remains significant unmet demand for quality downsizing options for this market, particularly in regional centres,” Mr Yeo said.
“During the past year we have been focused on the activation of our northern expansion strategy to add more than 1,000 new Queensland home sites to our portfolio.
“This includes the $200 million, 350-lot community in Townsville’s Northern Beaches which commences construction later this month. The addition of Yeppoon adds a further 401 lots to our pipeline.
“Further acquisitions will be completed in the coming months.”
Mr Yeo said Queensland remained a significant focus of the group’s expansion strategy, balancing the geographic spread of the group’s portfolio across Victoria, New South Wales and Queensland.
“Our model delivers and operates masterplanned over-50s lifestyle estates in established centres where there is significant amenity and infrastructure, and an unmet demand for downsizing choice and opportunity,” he said.
“In the near-term, we expect to grow to around 30 communities and over 6,000 home sites along the eastern seaboard and, based on our Queensland acquisition pipeline, that’s something we will achieve quickly.”
The new Lincoln Lifestyle estate in Yeppoon will be located less than 1.5 kilometres from local shopping centres and the Yeppoon Golf Club, and 2.5 kilometres from the beachfront and Keppel Bay Sailing Club.
“Yeppoon’s new Lincoln Lifestyle over 50s community will be designed as an extension of the existing neighbourhood with average lot sizes of 400sqm and a selection of architecturally designed two and threebedroom floor plans and facades across a range of single-storey homes,” Mr Yeo said.
“There will also be considerable amenity embedded within the estate itself, including a multi-million-dollar clubhouse and wellness centre, heated pool, community garden, lawn bowls green, pickleball courts and an array of BBQ areas, pocket parks and green spaces.”
Early works are expected to commence next year.
For more information visit https://www.lincolnplace.com.au
*Source: Australian Bureau of Statistics 2022 census.
About Lincoln Place
Lincoln Place is a developer, owner and operator of lifestyle estates designed specifically for the over 50s market. Our homes are architecturally and thoughtfully designed within a master planned neighbourhood setting, providing lifestyle facilities and spaces that prioritise connection, independence and financial security. More than 3,000 people live in Lincoln Place Lifestyle Estates, with a national portfolio of 24 communities in urban and regional growth centres along Australia’s east coast.