Lincoln Place Forges Ahead with Wangaratta Land Lease

Land lease developer Lincoln Place has scooped up a 16.3ha greenfield site in Victoria’s north-east and plans to follow through on approved plans for a $120-million project.

The site at 126 Lindner Road, Wangaratta, holds a permit for a 227-lot masterplanned estate, which the developer said would be the region’s first over-50s land lease community.

The acquisition follows Lincoln Place’s purchase of a 10.2ha site at Eagle Point in Victoria’s Gippsland Lakes region in June (rendering pictured top). It is planning a 209-home project, dubbed Eagle Point Lifestyle Estate, on the block.

Chief executive Paul Yeo said about 40 per cent of Wangaratta’s population was aged over 55 years, compared with the regional Victorian average of 30.7 per cent.

Yeo said more than 3000 people now lived in Lincoln Place communities and that number was expected to double within five years as the company expanded along the east coast.

That expansion has been supported by $44 million in development acquisitions over the past nine months.

▲ The greenfield site at Wangaratta would become home to a $120-million land lease community under the approved plans.

The developer was established in 2018 and has completed 23 communities in NSW, Victoria, Queensland and the ACT.

Yeo said the Wangaratta estate would include shared amenities designed to support active, social living for downsizers, including a clubhouse, wellness centre, heated pool, lawn bowls green, pickleball courts, theatrette and landscaped green spaces with barbecue areas and a community garden.

The site was about 250km by road from Melbourne and near health services, shops and dining in Wangaratta, the developer said.