The Lifestyle Communities® Story

When we bought our first site in 2003, there was a determination from our founders to create something that was different; to build communities that created a fulfilling lifestyle and a new-found sense of purpose for our homeowners. That motivation has driven significant growth from the humble beginnings of our inception to the creation of 24 communities (and growing) across Victoria.

It was in 2003 at Melbourne café Giorgio’s, that Dael Perlov, Bruce Carter & myself, sowed the first seed of the business – to create affordable and sustainable communities for the over 50s market. Our motivation to build homes that encompassed interactive and engaging urban design, coupled with exceptional resort-style facilities, was foreign to the existing retirement housing market. The landscape at the time was expensive with sub-standard amenities, and in nearly every instance, the homeowner was secondary to the purpose of the community. Armed with extensive research and a passion to create something truly revolutionary, Lifestyle Communities® was born with a purpose to be socially and ethically responsible in creating affordable, homeowner-centric communities for retiring Australians.

Our first site was purchased in Brookfield (Melton) in 2004 with the intention to build 229 homes. A home designer was appointed, and the business adopted a design and service philosophy that still serves us to this day: “You never get a second chance to make a first impression”.

In 2006, we acquired more land in Shepparton and from there, two more sites were acquired across Victoria. Our community-focused business model resonated strongly to the extent that we floated on the Australian Stock Exchange in 2007 (ASX: LIC).

Our first shareholder still remains on the register today with new investors attracted to not only the ethical operating model, but the balanced returns resulting from our 90- year land lease model. We also run a capital disciplined model working with existing shareholder equity to organically grow the business into the future.

We now have 24 communities in various stages of management or development and are currently geared to buy at least two new sites every year. Our unique heritage and outstanding record of achievement are driven by our strong values-based culture established almost 20 years ago, standing the test of time, and resonating to this day.

Ever mindful of the adage, “A customer may forget what you told them, but they will never forget how you made them feel”, our team are committed to making our growing portfolio of over 4,000 homeowners feel included, empowered, respected, engaged, and valued. Their stories are integral to our continued success and growth, and continues to drive the strong referral rate that Lifestyle Communities® experiences today.

We will continue to be a business for purpose with a passion to deliver high quality affordable houses to our customers, as well as long-term sustainable returns to shareholders. That is what we do.

James Kelly,

Managing Director, Lifestyle Communities®