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GreenFort Capital targets $800m land lease portfolio

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There’s a growing snowball of players and money rolling into the residential property play on one of Australia’s biggest demographic changes.

GreenFort Capital is making a play into the one shining light in Australia’s residential market – land lease housing for downsizing baby boomers – with the acquisition of a second community in Queensland’s Gympie region that it wants to make part of an $800-million portfolio.

The village northwest of the Sunshine Coast has 26 homes on a 25,000-square-metre site and has an adjacent 75,000 square metres with development approval for a further 150 homes. “The domestic population base is ageing rapidly, and the provision of affordable housing supply has never been so constrained,” said GreenFort executive Adam Vaggelas, who runs the business with colleagues Nick Singleton and Daniel Cheilyk.

 

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