Stockland to expand retirement portfolio

Stockland group's focus on the retirement living market will help it expand through acquisitions and partnership deals in coming years, according to the directors.

At the annual meeting last week, Stockland's chief executive Mark Steinert said better times in the residential sector were flowing through to the retirement business.

He said the group was working with building partners to expand its retirement living property portfolio and deliver more than 300 new homes in the next 12 months.

"Stockland remains committed to its retirement living business with a strategy to continue to grow returns by improving scale and efficiency," Mr Steinert said.

Stockland has signed on as the first corporate partner of Livable Housing Australia, with the aim of improving industry understanding of liveable housing design. LHA is a not-for-profit organisation which aims for the adoption of universal design features in Australia

Stockland's chief executive for retirement living, Stephen Bull, said it was the first Australian property company to sign on as a corporate partner to LHA design guidelines. "Stockland's partnership with Livable Housing Australia starts with our commitment to apply liveable housing design principles to our entire pipeline of new retirement living villas, townhouses and units," Mr Bull said.

Stockland has started a major project at its Selandra Rise Retirement Living Village at Cranbourne.