30 April 2019

Land lease community developer Ingenia has reported a near sell-out of the first two stages of its new over 55s development on the NSW mid-north coast, in a result which the company says has exceeded expectations.

Ingenia has reported that 96 per cent of 50 available homes have been sold at its Plantations project at Woolgoolga, north of Coffs Harbour, since June last year.

“Currently, the campaign has achieved the sales objectives months ahead of schedule with over-subscribed deposits in hand and stage three ready to be released in May,” a company spokeswoman said.

Home price sales ranged from $349,000 to the low $500,000, with the project's first residents likely to move in around June this year.

Woolgoolga locals and future Plantations residents, Stan and Di Purnell, currently live up the road from the Plantations site and will be among the first residents to move into the new community. (Stan and Di are pictured above)

“We had heard about the new over 55s community coming to our town and thought we should check it out,” Mr Purnell said.

“Di and I went along to a range of different events held by Ingenia Lifestyle, including an overnight stay at the Port Stephens community — this was an amazing trip and helped us get a better idea of what our future home and lifestyle would be like.

“After this trip, it didn’t take much convincing for us to purchase a home at Plantations — the whole experience was nothing but a pleasure and the opportunity for this lifestyle was far too good to pass up."

Plantations Project Sales Manager Terry Ronan said purchasers were taking advantage of Ingenia’s First Choice Club, which allows these purchasers to get early access to home designs and sites after paying a fully refundable $1,000 deposit.

“The other major drawcard for downsizers has been the resort-style clubhouse, which is set to be the heart of our community featuring a swimming pool, bowling green, cinema, gym and café,” Mr Ronan said.

Ingenia Lifestyle has new homes available at nine sites across the State - namely at Plantations (Woolgoolga), Latitude One (Port Stephens), Lake Conjola, Hunter Valley, Lake Macquarie, Albury, Mudgee, Marsden Park (western Sydney) and South West Rocks. See all available Ingenia Lifestyle homes here.

The Plantations result follows Ingenia selling 90 per cent of its Hervey Bay project in Queensland in just two months, and illustrates the ongoing strength of the land lease community model.

Under the land lease community model, buyers purchase a dwelling and then agree to a long-term lease on the land on which the dwelling sits. As a result, no stamp duty is payable, while the buyer may be eligible for Commonwealth rental assistance.

The model is particularly suitable for younger and more active retirees, who have less need for medical care and enjoy living in outer suburban or regional locations.

By Mark Skelsey, News Editor at Downsizing.com.au. Email Mark at news@downsizing.com.au