Tuesday, December 1, 2020

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Home Business News Stockland boosted by uplift in retail and home sales

Stockland boosted by uplift in retail and home sales


This is a turnaround in sentiment from the full-year results, where Stockland reported a loss of $14 million, compared to a fiscal 2019 year profit of $311 million.

The loss included COVID-19 impacted net devaluations in the commercial property division of $464 million and a net fair value decline of $116 million in retirement living.

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The ASX-listed $8.66 billion diversified group is the country’s largest home and land residential developer, together with a large portfolio of office, logistics, retail and retirement-living assets.

In his last result before retirement from Stockland, chief executive Mark Steinert said his strategy for a balanced portfolio allocation target of a third each to residential, office and logistics, and…



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