Leading over-50s community provider Lincoln Place has completed its acquisition of a 10.2-hectare site in Eagle Point in Victoria’s Gippsland Lakes region, following planning approval for its premium masterplanned 209-home lifestyle estate.
Early works on the Eagle Point Road site, acquired for $8 million, will begin before the end of the year as the company responds to what it calls ‘significant unmet demand’ for quality downsizer homes in the region.
Lincoln Place chief executive officer Paul Yeo said the $100 million Eagle Point Lifestyle Estate would be delivered in stages over the course of the next five years, with the first residents expected to move into their homes by Christmas 2026.
“This is an incredible site with north-easterly water views across King Lake and has been designed as an extension of the existing neighbourhood, albeit it with access to significant resort-style amenities,” Mr Yeo said.
“The clubhouse will feature a cinema, library and alfresco dining areas, alongside a wellness centre with a gym, heated pool and yoga studio. We’re also investing in a competition-sized bowls green and pickleball court.”
Home buyers will have a selection of architecturally designed two and three-
bedroom floor plans and facades across a range of single-storey homes, including options with RV garages. Quality fit outs, landscaping and ducted air-conditioning are standard inclusions.
Mr Yeo said almost one third of Eagle Point’s population is aged over 55, a number he expected to increase as the popularity of the coastal region increases.
“Providing quality new homes for over-50s is an important pillar of the housing ecosystem and there is significant unmet demand for lifestyle estates of this calibre in the region,” he said.
“Lincoln Place will deliver the largest lifestyle estate of its kind in East Gippsland, and we are working at pace to commence early works in the coming months. In the process, we will be creating local jobs and driving significant investment in
the community.”
Lincoln Place’s national portfolio of over-50s lifestyle estates is home to more than 3,000 Australians who have embraced the land lease community model.
Mr Yeo said land leasing was a widely accepted housing model in Australia and internationally because of the value it delivered for individuals and communities.
“Land lease communities are masterplanned neighbourhoods where you own your home, but not the land it sits on,” he said.
“It’s a popular housing option in Australia and internationally, supporting the over-50s market to downsize and free up capital to enhance their lifestyle.
“For our Eagle Point community, it means residents pay no entry or exit fees, no stamp duty, no body-corporate fee or deferred management fees, and no council rates. The only ongoing cost is a weekly site fee for the land that also covers the maintenance of the extensive lifestyle amenities we deliver. When you own your home, you keep any increase in its value, and
you can pass it on to your family if you decide to sell or transfer it.”
