CEO of the Lend Lease retirement village business,Michael Eggington, in the 2015 financial year grew its core portfolio by eight villages to 78, adding 1,208 units, creating a total of 14,193.

The strategy included a concentration on acquiring vertical retirement 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 retirement village segment.

They sold 1,309 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 retirement village units, up from 148.