Aveo Group: Interim result 2014

At its recent interim result, Aveo Group (formally FKP) confirmed that its strategy to sell development assets, reduce debt and focus on retirement property remains on track.Development land worth $156m was sold, or agreed to be sold, during the half, for around book value. A further $40m of development land in Brisbane has been sold since 31 Dec, which leaves around $640m of development land for sale. Despite recent success we don’t expect the whole portfolio to be sold at book value, and we wouldn’t be surprised if Aveo accepted lower prices at some point. We estimate that these assets...

At its recent interim result, Aveo Group (formally FKP) confirmed that its strategy to sell development assets, reduce debt and focus on retirement property remains on track.

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