Villa World

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AVID Property Group has taken ownership of residential developer Villa World Limited, positioning the new combined business amongst the top 10 land developers in the country.
The $410 million acquisition will see AVID’s portfolio increase from 10 to 37 projects and more than 12,000 residential lots, securing a gross revenue pipeline of $4.7 billion.
AVID CEO Cameron Holt takes the helm of the new combined business, which see a broadening in the range of house and land offers for future home buyers.
“The success of this acquisition firmly positions the company up there as a key national residential property contributor,” Holt said.
Holt said a new executive team combines leaders from both AVID and Villa World.
“All of our leaders share a deep passion for their teams, their customers and for driving quality and innovation, which will support this exciting growth phase,” he said.
With an expanded residential portfolio and geographic footprint across Australia’s eastern seaboard, AVID and Villa World will continue to operate under both brands.
Villa World ceased trading on the ASX on October 16, 2019 following a majority shareholder vote in favour of the acquisition.
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j.ballantyne1990-6AQqhLzZaK

AVID acquires Villa World, now 'Top 10' land developer

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Villa World said while sales for the period HY19 were down, however property settlements for the period were generally consistent with the previous period.
Managing Director and CEO Craig Treasure (pictured) said, “The current challenging market conditions are part of the cyclical nature of the property industry."
"However, Villa World has a long history of successfully navigating through market cycles and has a forward strategy focused on helping people reach home and long-term value creation."
"We believe Villa World is well placed to capitalise on opportunities that will arise for astute acquisitions and partnering arrangements."
"In the current market conditions, we have invigorated our sales strategy to highlight our value product offering in our sector," he stated
The Company made a $17.6 million after tax HY19 profit, compared with $17.3 million for the same period last year.
Queensland flagship projects including The Meadows (Strathpine), Killara (Logan) and Arundel Springs (Gold Coast) "sold well"
Although Victoria's property market has moderated, some of Villa World’s Victorian projects have remained consistent, notably the Wollert joint venture project.
Villa World said as previously stated, delivery times on Victorian projects are taking longer than anticipated.
Several stages in the Company’s Victorian projects are scheduled for completion in late FY19, with some likely to extend into HY20.
They belive Market conditions and the availability of customer credit are likely to remain challenging for the remainder of FY19. Plus the upcoming federal and NSW elections may also lead to increased customer uncertainty.
GNet tangible assets at 31 December 2018 represented $2.31 per share.
Mr Treasure said, “the Company has conviction that its projects are located where people want to live, its homes are priced within reach of its customers, and its turnkey homes offer a unique customer experience."
"With sound financial fundamentals, prudent capital management and a committed team, the company has the foundations and resources to provide sustained success and shareholder value beyond the current sector dynamics," he concluded.
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Residential house and land developer Villa World sales down in HY19

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Villa World has delivered a fifth year of double digit growth.
Villa World recorded a net profit after tax of $43.6 million (34.4 cps), up 15% on last year's result of $37.8 million.
Villa World chairman Mark Jewell said the S&amp;P/ASX 300 company’s year-on-year growth demonstrated that its financial strategy and commitment to delivering its core affordable house-and-land and land-only product was on track.
“The board has now turned its attention to the next phase,” he said.
It has welcomed a new board member, former Nike Inc Vice President, Lisa MacCallum, who takes up the independent non-executive director role.
“The addition of Lisa MacCallum to the Board will help us achieve this,” Jewell said.
During 13 years with Nike, she led major business turnarounds in the company’s US retail sales and growth initiatives.
With a background in accounting and consulting with KPMG in Australian and the US, MacCallum co-founded a Tokyo-based multimedia and broadcasting company.
She is a board member of British Telecom (BT) PLC.
Jewell said MacCallum’s global corporate experience and perspective would enhance the Villa World Board and help drive the company as it begins implementing a newly-endorsed purpose and beliefs focused on people, customers and community.
At its annual results announcement, Villa World reported a 39% increase in sales, up from 1,207 lots in FY17 to 1,678 lots.
Revenue increased to $441.6 million in FY18, up from $386.8 million last year.
The Villa World Board declared a full year dividend of 18.5 cents per share fully franked, representing a yield of 8.6%1.
Looking ahead, the company is targeting a statutory profit after tax of approximately $40 million in FY19.
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Villa World announces fifth consecutive year of double-digit growth

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The residential property developer Villa World plans a 273-lot subdivision in Melbourne’s Plumpton.
It has entered into a development rights agreement over a 15 hectare site.
Set within Melbourne's north-western growth corridor, close to Caroline Springs, Villa World continues to grow its foothold in the Plumpton corridor.
Villa World Victoria state manager Andrew Ashwood noted the company had the 165-lot Sienna project.
Since 2015 Villa World have seen strong sales at Sienna Rise and Sienna North, to be followed by a further 382 house-and-land lots nearby, Ashwood said.
The latest Plumpton development will offer homesites averaging 400 square metres and priced from $325,000.
Villa World is also progressing its joint venture with Ho Bee Land Limited to develop a 15.73 hectare site located in Wollert, 25 kilometres north of Melbourne CBD.
Overall, the Company continues to benefit from strong national sales, new partnerships and earnings from joint ventures.Established in 1986, Villa World is an ASX300 listed residential property developer, specialising in contemporary Australian homes and land, in master planned communities in the east coast States.
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Villa World adds more Plumpton house and land lots

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House and land developer Villa World said it had posted its fourth consecutive full-year profit growth.
It guided for a full-year profit after tax of $41.6 million for the 2017-18 financial year,  a growth of 10% over FY17 based on the assumptions that interest rates would stay low and first home buyer grants would remain in place.
Villa World said it made a statutory profit after tax of $37.8 million  for the financial year ended June 30, up 12 percent from the previous year.
Commenting on the results, CEO and managing director Craig Treasure said in an ASX announcement that Villa World’s strategy of maintaining a pipeline of projects, while also “diversifying both geographically and in our product mix within the residential house and land market”, had generated consistent cash flow for Villa World. 
The group said its impressive performance was because of its less exposure to investors, which brings in more volatility.
"We're isolated from a bank shutdown and we only have 20 per cent investors ... as far as international buyers go, there are very few," Treasure told The Australian Financial Review.  
<a href="https://www.propertyobserver.com.au/images/2017/08/16/VillaWorld.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/16/VillaWorld.png" alt="">
Villa World's steady sales, despite a low investor base, show there is a lot of demand left in the local owner-occupier market. 
The property group’s settlements of wholly owned lots rose to 1,116 from the previous year’s 1,073, though revenue from them was flat.
Queensland continued to be the biggest contributor to the group’s performance, making up 71% of sales, slightly down from FY16’s 74%. Victorian projects contributed 21% of sales while New South Wales made up the remaining 8%.
The company acquired 3,454 lots in the financial year in northern Brisbane, Logan, north-west and south-east Melbourne, which it said would provide product continuity for several years. 
The board has declared a fully franked dividend of 18.5¢ per share in 2017. 
Villa World acquires, develops and markets residential land and house and land estates across the east coast.
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Villa World profit up, expects solid 2018 on FHBs, low interest rates 

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Almost 50 percent of Villa World's latest stage of its Brisbane Rochedale Grand release sold in two weeks.
The latest stage of the 167-home development features city views.
Gary Hunter, Villa World development manager said 14 of its 20 contemporary homes already snapped up.
“We had many prospective buyers who had registered their interest with us well ahead of the release,” he said.
“That anticipation is certainly reflected in the rate of sales since these homes hit the market.
“It’s an outstanding response and we’re thrilled that Rochedale Grand is achieving such strong market traction.
"Most of the buyers were owner-occupiers from surrounding suburbs such as Sunnybank, Sunnybank Hills and Eight Mile Plains.
"Buyers are a mix of young professionals buying their first homes and families wanting to upsize.
“They’re trading their circa 1970s and 1980s homes for a contemporary and spacious residence that doesn’t have the maintenance issues of a long-established house.
“They love the ease of access to major roads such as the M1 and Gateway Motorway and the fact that Brisbane’s extensive public transport network is within walking distance.
“Many also want to live close to Redeemer Lutheran College for their children’s education.”
The latest release in Rochedale Grand features architect-designed, two-level homes with four bedrooms, 2.5 bathrooms, designer kitchen with 900mm stainless steel appliances and ducted air conditioning throughout.
The homes are on lots ranging from 313sqm to 541sqm.
Land is priced from $365,000 with house and land packages available from $712,500.
For more information, <a href="https://www.rochedalegrand.com.au" target="_blank">click here</a>. 
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Villa World's Rochedale Grand selling fast

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Property developer Villa World has noted profitable half-year financial results, pushing an upgrade to their full-year guidance.
Full year guidance has been amended to an after tax profit of $37.5 million, showing growth of 11 percent over FY16 ($33.7 million).
Half-year statutory net profit after tax was noted at $19.6 million (17.4 cps), compared to a net profit after tax of $20.4 million (18.5 cps) for the half year to 31 December 2015.
Villa World gave half-year guidance in the range of $19.5 - 21.4 million, released on 6 December 2016, with sales of Victorian land and housing projects carried forward into 2H17.
Craig Treasure, Villa World managing director and chief executive officer said Villa World was primed for a strong end-of-year result, off the back of a 35 percent increase in half-year sales (1H17: 673 sales; 1H16: 497) and around $192 million in carried forward sales contracts.
"Around 86 percent of those contracts (479 lots valued at $161 million) are expected to settle in 2H17, with the balance settling in FY18," he said.
"The Board anticipates paying total dividends of 18.5 cents per share fully franked in FY17, representing a yield of 7.7 percent.
"Villa World was well placed to outstrip its FY16 sales performance and achieve at least 1,185 sales.
“The strength of the Queensland housing market, particularly in the Brisbane-Gold Coast corridor and similar growth corridors around Melbourne and Sydney, is continuing to reap excellent results for Villa World.
"Queensland dominated the Company’s revenue gains, contributing 84 percent this half-year (1H16: 86 percent)."
"House and land products represent 66 percent of revenue (1H16: 76%).
“We continue to focus heavily on our core, being the retail market comprising owner occupiers including first home buyers, as well as builders and predominantly local investors.
“These market segments are holding up very well leading us to anticipate steady growth in both sales volumes and price point as we look ahead to the remainder of FY17 and into FY18.
We are looking forward to releasing new flagship projects at Killara, in Logan, and Arundel Springs, on the Gold Coast, and expect strong market conditions will continue to drive sales.”
He said Villa World would continue to consolidate its growth base in Queensland as well as diversify its profile across Victoria and New South Wales.
“We are continuing to replenish land stock through strategic purchases in proven growth corridors and take advantage of opportunities to diversify our geographic footprint along the east coast,” he said.
In the half year to 31 December 2016, Villa World acquired 1,496 lots for a total portfolio of 6,386 lots.
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