The country’s third largest retirement village operator, Stockland, has announced it sold over 1,000 homes in the 12 months to June 2015. This included 297 new homes it delivered, the largest of any operator by a factor of about 100%. (Average price $509K, up 23% on FY15).
Their development margin on new homes was 16.8%. They currently have 400 homes in some stage of development.
Over the 12 months they purchased eight Masonic Homes villages in SA and sold five smaller villages in WA. For the year they made an operating profit of $57M, up 19.7%.
Picture: Stockland Group Executive and CEO of Retirement Living, Stephen Bull.