James Kelly’s Lifestyle Communities has contracted to pay $11.45 million to purchase an MHE site within Australand’s Berwick Waters estate in Clyde North, 60kl SW of Melbourne near Cranbourne (where they already have an established community), plus there is a considerable number of retirement villages close by.

This will deliver 225 home sites at an average of $51,000 each. Lifestyle Communities will then have 12 communities with 2,155 home sites, all in Victoria and developed from scratch over 10 years.

Pre Christmas they purchased a site at Officer, north of Cranbourne, and have achieved 23 deposits in the first seven weeks of pre-sales.

On Christmas Eve their share price was $1.86; today it is $2.50, a jump of 34% in five months.