Lend Lease annual results reveal they turned over approximately 15% of their existing ILUs last financial year a very healthy result compared to other major village operators who average around 9%. They sold 794 existing ILUs plus 206 new ILUs, or exactly 1,000 sales for the year (for a combined value of $346.2M).
New ILUs averaged $406K in price while resales averaged $332K. They have a development pipeline of 1,247 units. Over the 12 months they purchased three villages and sold three villages. They also completed the acquisition of five villages they previously managed.
Opinion
These new retirement villages show providing care is here and now
Gone are the days when retirement living was defined by community centres, swimming pools and bowling greens. While these amenities still exist – the provision of care is now a core part of the value proposition. Hyegrove Willoughby on Sydney’s...
