Stocklands Retirement division delivers $41M operational profit on 787 sales ave $52,000 per ILU
Cash profit for Stockland increased from $20M to $41M, above forecasts and delivering a 4.25% return on its $1 Billion investment. Rollover sales were up 25% from 416 ILUs to 519 ILUs with an average price of $324,000, also up 7% from...
Cash profit for Stockland increased from $20M to $41M, above forecasts and delivering a 4.25% return on its $1 Billion investment. Rollover sales were up 25% from 416 ILUs to 519 ILUs with an average price of $324,000, also up 7% from $303,000.Their average DMF was $87,000, or 27% of the turnover price. Occupancy fell 1% to 94%.
Greenfield villages delivered 268 new sales, also up by 42%, with an average price of $378,000 (ave. margin 18%). They claim to have a development pipeline of 3,800 ILUs, worth $1.8B across 27 sites. This is on top of the 7,800 ILUs they have now.
