HOW COMMERCIAL REAL ESTATE IS RESETTING — AND WHAT IT MEANS FOR YOU
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Stockland has been greenlit for a land lease retirement community within a wider residential masterplan in outer Perth.
The 6.92ha site is part of Stockland’s Halcyon Illyarrie community at Sinagra, 32km north of the CBD and within the City of Wanneroo Local Government Area.
The $71-million plans submitted earlier this year detail a 153-home development on the site of a former Inghams Chicken Factory that ceased operations in 2022.
That closure enabled the redevelopment of the surrounding area, which was subject to a poultry shed buffer zone while the factory was in operation.
Stockland’s senior living plan was approved by the WA Development Assessment Panel.
It will offer a range of single-storey independent living units with lots between 231sq m and 396sq m, designed by Plus Architecture for over-55s, according to a development application submitted in April of this year.
In the application from CDP Town Planning, Stockland said it had “quickly become one of the largest national owners and developers in this sector and is pleased to leverage its benchmark development approach within WA”.
The developer identified land lease communities as meeting the “modern day needs and expectations of over 55s”, allowing owner-occupiers to buy at a discount while Stockland retains ownership of the land on which their home sits.
Each of Stockland’s Halcyon land lease communities includes a “multi-million dollar clubhouse” with pools, pickleball courts, gyms and communal gardens.
The wider $171-million masterplan was launched by Stockland in November, 2023, for a site off Wanneroo Road.
Once complete, Stockland Illyarrie will be home to around 1500 people across 472 residential lots.
At the time, Stockland general manager WA residential Col Dutton said it would provide “much-needed quality housing in this high-demand northern growth corridor”.
Stockland is investing heavily in the retirement space, and particularly in land lease, launching plans for four Victorian communities this year under its Halcyon brand, which it acquired in 2021.
