Yeppoon Over 55s Land Lease Community Project

The Yeppoon Land Lease Community (LLC) Project is an approved development project in Yeppoon for 284 manufactured homes. In 2022, I identified Yeppoon as an area that was ready for a residential development project based off the demographic, economic and market drivers. Yeppoon had performed strongly during the Covid-19 pandemic with strong interstate migration and upwards trending property values.

I found a development site listing that was being advertised by a local agent who said that the site had a lapsed approval for 128 lots. I saw that the zoning was low-medium density and commenced due diligence investigations for a concept for a land lease community with double the yield. After reviewing the planning scheme, infrastructure plans, market trends, demographic and economic drivers I was extremely confident that an LLC would be approved, could be serviced efficiently and would be highly valuable in the marketplace. In 2022, I acquired the project for the project owner with a 90 day due diligence period and an 18 month settlement.

In 2023, the project secured its development approval with Livingstone Shire Council

As of 2024, the project is proceeding to the next stage of development with aims of commencing construction later this year.

The project has received numerous offers from private and public operators at 3-4 times multiple of initial acquisition price representing a very profitable venture for the project owners.