RetireAustralia achieves 10.4% ILU turnover in FY13
Australia's largest private retirement village operator, RetireAustralia, has announced it has achieved 12 month sales of 347 ILUs across its portfolio of 3,400 or 10.4%. Managing Director Tim Russell points out that this was achieved with both unit...
Australia's largest private retirement village operator, RetireAustralia, has announced it has achieved 12 month sales of 347 ILUs across its portfolio of 3,400 or 10.4%. Managing Director Tim Russell points out that this was achieved with both unit price growth and speed of sale, meaning departing residents received their cash in a timely process, all in a flat market. He predicts moving to 11% turnover in the next few years - the financial sweet spot. They are also committing to extensive new development within existing villages which will deliver significant development profit.
