DomaCom crowdfunds LGBTI retirement village

DomaCom has started to bookbuild a retirement home in Victoria that will be designed for the gay community, saying the project has already been met with "significant" support.

In a statement, the company said the first turning of soil for Linton Estate began last week on land purchased in Ballan, about 80 kilometres west of Melbourne. Bids for the stage 1 target of $650,000 for land acquisition have already reached 70 per cent.

Stage 2 will raise a further $1.8 million to complete rezoning and civil works, while stage 3 will include the build and development of boutique townhouses. The entire project is expected to be completed in two years at a total cost of $30 million.

The project will provide an opportunity for small investors to participate in the development and potentially receive returns over a period of18 months to two years.

DomaCom chief executive Arthur Naoumidis said: "The Linton Estate project is another example of the versatility of the fractional model we have developed.

"We can and are applying the DomaCom model to a number of vastly different projects, from this one at Ballan to crowdfunding Kidman Station, purchasing student accommodation, car parks, established residential properties and specialist residential and commercial properties."

Peter Dickson, the project's founder, said Linton Estate is a long-term vision of his.

"It is time for the LGBTI community to be recognised, and how appropriate for them to have the first of a kind place for them to spend their twilight years," he said.

"I am very proud of the community and the work being done for Linton Estate, which offers a more flexible model for residential living in retirement than that provided by the Retirement Living Act. It is a retirement village with a twist."

Add comment

Security code

Feature Video

Latest Blogs


Advisers more relevant than ever, as this budget shows

George Lucas: In that budget, largesse was the name of the game. It preceded the global financial crisis, times were seemingly good, and a government struggling in...More >>

Key budget changes for businesses

Peter Bembrick: Small businesses in particular should benefit from these changes, which include: Company tax rate reduction Over the next decade, the company tax rate will be reduced to...More >>

Robo-advice – it’s not about us

Duncan McPherson: Sadly, it appears that the vast majority of comments are from a developer's or competitor's perspective, with very few focusing on the customer. My concern was...More >>

Latest Comments