Hometown Australia Communities, part of Chicago-based Hometown America Communities, has sold out its latest over-55s resort, Sunrise, at Bobs Farm, Port Stephens, 44km northeast of Newcastle, NSW.
The land lease owner/operator has 54 established or under development communities in NSW, QLD, and SA.
Hometown Australia paid $9.4 million for the site – then with approval for 188 homes, in 2017. It is hoped the last of the 250 residents move in next month.
The resort has been built by Hometown Australia Communities’ partner MJH Multi Residential Projects. There were seven home designs to choose from.
Amenities include two swimming pools, lawn bowls, tennis court and gymnasium.
There is a wait list with people who have sold their homes, which is indicative of the strong demand for new homes in land leave communities.
Sunrise is Hometown Australia’s first resort-style operation in Port Stephens. Homestead at Salamander Bay; Sandy Shores at Salamander Bay and Sea Winds at Anna Bay are nearby established communities.
In NSW, it is currently developing The Pines at Woolgoolga, 20 minutes’ drive north of Coffs Harbour, and Glenfern Thrumster, 10 minutes’ from Port Macquarie.
The land lease living model means residents own the dwelling and long-term lease the land on which it stands. There is no stamp duty payable, no council rates, no deferred management fees that exist in a retirement village and a buyer may be eligible to claim Commonwealth rental assistance.