Lifestyle Communities Aquires Land at Cowes.

Lifestyle Communities have executed a contract to purchase a site located on Phillip Island in the township of Cowes. This will be the company's 24th community and it is in a prime location 350m from the beach and 2.5km away from the Town Centre. Lifestyle Communities is looking to build approximately 270 homes and an architecturally designed club house for the residents to socialise. Construction is anticipated to commence mid-2022.

This is a company and sector I have been keeping an eye on due to the belief that these sort of residential communities will become increasingly more popular as the population over 50 grows. Lifestyle Communities seems to be snatching up some really great pieces of land that will become very exclusive communities. The company advertises these communities as 'Over 50s Resort Living'. They will be charging a pretty penny for these as well and recurring revenue could come from memberships to the social clubs and other such intra-community offerings.

Will certainly be keeping my eye on this company to see how they plan to make recurring revenue going forwards.

DISC: do not currently hold.