Across the six months July - Dec 2015 Stockland Retirement turned over 443 units, delivering a six-month operating profit of $18M, up $2M on the same six months in 2014.
This delivers an increased Return on Assets of 5.2% against a future target of 7.5% by 2018.
Following the acquisition of the Masonic Homes’ villages in SA, they now have 9,400 units across 69 location.
With a retirement village land bank of 3,000+ sites (significantly larger than any other operator), they currently have 470 new homes under construction or available for sale - the equivalent of four new standard villages.
In the six months they sold 126 new homes at an average price of $427K with a 16% development margin ($68K). 317 existing home sold at an average of $325K and a 25% margin ($81K).
Mirroring Aveo’s 2015 marketing proposition ‘The Aveo Way’, Stockland has now introduced their ‘value proposition’ to ‘Retire Your Way’ which acknowledges the role of care in retirement villages.
Retirement Living CEO, Stephen Bull, states “Our strategy to increasingly offer a continuum of care, enabling more residents to age in place has been well received”. Stockland now has five sites that are either under contract or agreed for sale to Opal Aged Care”.
