Hometown has finalised the sale of non core assets following the privatisation of the publicly-listed Gateway Lifestyle Group, with the sale of a large site in Casino NSW for $16.0m.
The site at 69 Light St includes covers 123ha of which approximately 17ha is currently developed with 714 dwellings.
The site was acquired by Hampshire Villages, a family owned Australian company with twenty years experience operating land lease communities with about 12 villages in NSW, SA and Victoria.
The sale of the Gateway Village Casino is one of 11 villages in regional tourism/retirement destinations that Hometown listed for sale through CBRE.
Whilst several contracts are yet to settle, the sale campaign of the 11 assets are expected to generate in excess of $100m in sales proceeds for Hometown.
Other assets include;
• Old Bar, NSW (Greenfield)
• Evans Head, NSW (Greenfield)
• Ballarat, VIC
• Lakes Entrance, VIC
• Sundown Villas, ACT
• Manning Point, NSW
• Myola, NSW
• North Haven, NSW
• Chinderah , NSW
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