Lester Group creates new seniors’ community
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Local property investor and developer Lester Group has unveiled plans for a new 186-home seniors’ lifestyle community called Edenlife Australind, within its Kingston residential estate in the south west.
The Western Australian-based group has traditionally operated in the residential land and industrial property markets, with recent transactions including the purchase of a logistics facility in Forrestfield for $20.5 million as well as a storage facility in Brisbane for $11.15 million.
Edenlife Australind will be Lester Group’s first foray into lifestyle villages.
The gated community will span 8.3 hectares, featuring 186 homes, as well as an 814 square metre clubhouse, including a heated indoor pool, gym, library and cinema.
Other communal facilities include a professional grade bowling green, crafts centre, community garden, hobby shed, as well as caravan and boat parking.
The business has already appointed Edenlife’s inaugural chief executive; William Marshall, who will bring more than 20 years of retirement sector experience to the role, previously holding leadership positions with Southcare and National Lifestyle Villages.
“We have always planned for this type of offering ever since establishing Kingston Estate over 20 years ago,” Mr Lester said.
“The expanding population of seniors, who continue to be very active, translates into strong demand.
“We have recently submitted a development application for our first lifestyle community in Australind, which will be just one of a number of communities to be developed in prime locations throughout the metro and regional centres of WA, under our Edenlife brand.”
Edenlife will be developed as a land lease community where residents’ tenure will be protected by the Residential Parks (Long-stay Tenants) Act.
Mr Lester said the land lease model had continued to mature as a compelling alternative to the current options for seniors in Australia.
“Land lease communities or modular home estates have grown rapidly in the east with this type of development expected to overtake retirement villages within five years,” he said.
“This is a much more practical and affordable offering for active seniors, with security of tenure and oversight by state and local governments. In the east they have developed into real community assets, catering to the needs of seniors while making it easy for them to maintain an active and fulfilling lifestyle.
“By separating the land cost from the home purchase, this housing option becomes very affordable whilst still delivering all of the community facilities desired by seniors.”
A distinct advantage of the land lease model was that Edenlife Communities would not include any exit fees and Mr Lester said all the proceeds from a residents’ home sale would be retained by the resident.
“This coupled with a strong focus on environmental credentials, means our offering will include electricity from our solar installations and purpose-built recycling centres, reducing Edenlife’s environmental footprint and delivering ultimate value,” he said.
Construction of Edenlife is anticipated for commencement April next year, with residents to move in late 2019.
Residents will be able to select an architecturally designed home from a range of designs and choose their location within the community.
A community information evening will be held August 15 in Australind.