Lend Lease Retirement enjoys strong FY15

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Michael Eggington’s Lend Lease Retirement grew its core business by eight villages to 78, adding 1208 units and creating a total of 14,193.

The strategy included a concentration on acquiring vertical villages delivered by the two Waterbrook villages in Sydney, several Retirement Alliance villages and Trebatha Apartments, purchased from St Lukes in Sydney, all designed to expand its prestige segment.

They sold 1309 units, up 11% on the previous year, at an average price of $365K, an increase of $5000 per transaction or 1%.

Over the 12 months they developed 205 new units, up from 148.