LPE expands into Victoria and retail property with three new long-term utility agreements
Locality Planning Energy Holdings Limited (ASX: LPE) has executed three new long-term utility infrastructure agreements simultaneously, entering Victoria for the first time, securing its first retail shopping centre project, and deepening its Queensland land lease portfolio. The agreements add approximately 750 electricity and water service points at completion, backed by a combined ~$1.28 million in LPE-funded infrastructure investment under terms of 10 to 15 years.
The three agreements directly advance LPE’s “Grow through partnerships” priority published for FY2027 on 28 August 2026, spanning geographic expansion, a new property asset class, and continued growth in the land lease community sector.
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Three agreements, three strategic directions
Victorian entry — 203-home land lease community
LPE has executed its first Victorian Service Order under the 15-year Master Services Agreement with an over-50s land lease community operator announced on 15 July 2026. The Service Order covers a new community of 203 homes in regional Victoria, comprising 406 electricity and water service points at completion.
The Victorian Service Order is the first executed under the 15-year Master Services Agreement with the undisclosed over-50s operator, a framework that also anchors the broader July 2026 partnership round targeting more than 3,000 homes and 4,700 service points across 18 sites.
LPE-funded infrastructure includes a 99kW clubhouse solar system, a 588kWh community battery, and integrated electricity and water services. Homes are expected to be delivered in stages from 2027 to 2032, with connections and revenue building progressively as homes are completed and settled. Consistent with the 15 July 2026 announcement, the operator is not identified, reflecting the commercial sensitivity of its development pipeline.
The agreement establishes LPE’s presence in Victoria and creates a foundation for future growth within the state’s embedded network market.
First shopping centre — Parkhurst Town Centre, Rockhampton
LPE has executed a 10-year agreement with AHC Limited for Parkhurst Town Centre in Rockhampton, marking the company’s first retail shopping centre project and entry into the retail property asset class. The project includes LPE-funded embedded network infrastructure for 25 retail tenancies and a 300kW solar system, LPE’s largest solar installation to date, designed to improve operating efficiency and reduce energy costs for tenants.
Rod MacLeod, Managing Director of AHC Limited
“Our focus is on creating long-term value for our tenants and our customers. Through our partnership with LPE, we’re committing to local initiatives that help lower operating costs, improve efficiency and create a better experience for the people who visit the centre every day.”
Regional Queensland growth — Horizon Living, Gympie
LPE has executed a 10-year agreement with McGovern Developments for its Horizon Living community in Gympie, comprising approximately 316 service points at completion. LPE will fund electricity, water and solar infrastructure, including a 40kW solar system on the clubhouse, alongside EV charging capability.
Bernie McGovern, Managing Director of McGovern Developments
“At McGovern Developments, we are committed to creating communities that provide genuine long-term value for residents. Reducing the cost of living and harnessing renewable energy are important considerations in the way we plan and develop our communities. Partnering with LPE enables us to deliver modern electricity, water and solar solutions that support affordability and a better living experience for residents.”
What is an embedded network — and why does it matter?
An embedded network is a private electricity (and utilities) network built within a property development, where the developer or operator contracts a specialist provider to supply energy directly to residents or tenants rather than relying on the public grid.
For LPE, the model works as follows:
- LPE funds the infrastructure upfront, removing the capital burden from developers and community operators.
- Long-term supply agreements — typically 10 to 15 years — generate recurring utility revenue for LPE over the life of each project.
- Land lease communities and retail centres suit this model well, offering captive, long-duration customer bases with stable consumption profiles.
- Extended agreement terms provide meaningful revenue visibility, underpinning LPE’s ability to invest in new projects with confidence.
The model appeals to developers seeking a turnkey utility solution without upfront capital outlay, while LPE builds a growing base of contracted, recurring income.
Building a diversified, recurring revenue base
The three agreements collectively reinforce LPE’s position as a multi-asset, multi-state embedded network provider. Investors should note that revenue under each agreement will build progressively as homes settle and tenancies commence. LPE has stated it is not currently able to reliably estimate the timing of revenue from these agreements, and near-term financial impact should not be assumed.
| Project | Partner | Location | Term | Service Points |
|---|---|---|---|---|
| Regional Victoria land lease community | Undisclosed (over-50s operator) | Regional Victoria | 15 years | ~406 |
| Parkhurst Town Centre | AHC Limited | Rockhampton, QLD | 10 years | 25 tenancies |
| Horizon Living | McGovern Developments | Gympie, QLD | 10 years | ~316 |
With Victoria now contracted, LPE operates across Queensland, New South Wales, South Australia, Tasmania, and Victoria. The simultaneous execution of three agreements spanning a new state, a new asset class, and an established sector reflects the “Grow through partnerships” strategic priority the company published for FY2027.
The PowerHub acquisition, completed in August 2026, added Tasmania and South Australia to LPE’s operational footprint at the same time the company was building its Victorian pipeline, illustrating the pace at which the platform has expanded across state markets within a single reporting period.
Craig Chambers, Chair, LPE
“These agreements demonstrate the continued execution of our partnership-led growth strategy, in a new state and a new property asset class. We are actively expanding our presence within the land lease community sector, entering Victoria for the first time with an existing partner and broadening our customer base through our first shopping centre project. Each project has been assessed against the Company’s investment criteria and is supported by LPE’s infrastructure investment model, which continues to resonate with developers and community operators seeking long-term utility solutions.”
LPE has indicated it will update the market as material information regarding revenue timing becomes available.
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