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Land Reserve Quarterly Update

Report Due June 2019

Phil will share a quarterly update for all Land Reserve projects to keep you up to date on progress being made in each project.

Old Bar March 2019 Update

Land Reserve Update - September 2018

A really great update this month for the land reserve model.

Hope you can come and see me at the live events on the weekends.

For those that can't come along, here's a quick update on what's going on.

If you're involved in any of the previous projects or looking to get involved in our next project, there's some pretty exciting things happening right now.

Old Bar

Our first project that we were able to secure. It's only been about 18 months since we managed to secure it and we've already hit the uplift target ahead of time.

We've had coaches visiting the area over the last couple of months and there's a lot of excitement on everything that's happening in the area.

The developers are very focused on the short supply of land that is available in the region.

So much so, that we have a builder that's giving us the opportunity to have guaranteed sales on those blocks of land as they come to the market.

We will share more with you soon and at the live events.

Crest

We're now moving this project to operational works. Gordon's been working really hard behind the scenes.

The DA is approved and the next stage is to get it to operational work situation, which still should bring us in line with our goal of developing land in 2019.

Trent and Gordy visited there over the last few weeks and there's lots of excitement from local builders there as well.

We have two or three building companies that are wanting to commit to putting up display homes in that estate.

We're hoping to be able to give a big update in the next 60 days.

Highworth

The project is currently still in a due diligence phase.

We've been working with the council and a number of builders and had very positive feedback from them with lots of excitement in the Sunshine Coast area.

There's still a few tweaks left to be done. There were a number of obstacles to getting the project on track but we've overcome them and we're in the finalisation of the due diligence process.

More news on Highworth very soon.

New Project

We've been working on this one for almost 12 months and we're very excited about it.

While we can't reveal too much at this stage, our aim is to provide some more details on the project soon.

There's a little more work to be done in the next 60 days, but we can't wait to share more on this one as well.

Land Reserve Update - August 2018

The Lifecorp team has been working on some exciting projects in the land reserve space.

There's plenty to talk about at the next round of events and more will be shared then.

Paul Loughland, one of the buyer's agents, visited the Old Bar estate in Taree recently and was excited by what he experienced and saw there.

"Great location, literally 1 minute to Coles and 3-4 minutes to the beach. Talking to locals, this area will be the new centre of town. Shopping centre to go across the road and another 800 lots to be released eventually. The area is rapidly growing - the few different locals I spoke with were very positive on the area and the growth. They thought the town will go from about 3000 people at present to 12,000 people and that will be the maximum due to limited land," Paul said.

Lifecorp has also been pursued by one of the more active builders in the market who are keen for us to develop the land and get things started.

Property manager Terri Tipper from the Port Macquarie region is also enthusiastic by the growth she has seen in the Old Bar region.

"The coastal location of Old Bar offers a unique 'on the sand' location in regional NSW.  Currently with a population of 4,390* people and 24.35%* of its occupants live in rental accommodation.  The medium rent in Old Bar for houses is $380* per week and the median rental yield is 4.24%*.  This region including Taree close by is growing substantially with new schools and employment opportunities coming up in both Old Bar and close neighbour Taree. With Sydney an easy 3 hour commute regional family life is becoming more and more appealing for young families, proven by the recent population growth across the Mid-North Coast region," Terri said.

We're looking to start the project very soon, so look forward to a comprehensive update in the next few weeks.

Another area of focus has been Crest in Gympie.

Trent Durrington has been working on Crest and looks forward to being able to reveal more on this project to our members soon.

"Gympie currently has an under supply of quality land available. The local builders are desperate for quality, good size (700sqm+) lots to hit the market. They're also seeing an increase in migration from the Sunshine Coast with buyers requesting larger lots than the current available 500sqm lots," said Trent.

The final area we're still looking at is Highworth in Sunshine Coast, which has been a challenge due to all the stakeholders involved.

We're hoping to be able to get development approval and everything to fall into place exactly as we would like.

For Old Bar and Crest, we expect them to start rolling out in 2019 with Highworth hopefully not too far behind.

The team is also working on three new areas and hope to be able to share one of them at this round of events with you.

*Stats sourced:  Real Estate Investor

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