Mirvac, which announced a 62% drop in first-half statutory profit of $215 million on 9 February, has highlighted its successful foray into Build to Rent, which should concern every retirement village operator.

LIV Indigo at Sydney Olympic Park, which opened in August 2020, has a 95% occupancy and a 5.9% lift in price when an apartment becomes vacant.

Its second BTR development, the $355 million 39-storey LIV Munro (pictured) in Melbourne, opened last November. A two-bedroom apartment costs $900 a week and it is approximately 32% leased.

In addition, the Australian property group told the market it is in exclusive due diligence with two parties for a capital partnering program with a medium-term goal of about 5,000 apartments.

“Strong capital demand supported by resilience of cash flow streams, high occupancy, low downtime, low capex, favourable rent growth outlook, historical valuation resilience in offshore markets, and highly sustainable buildings meeting a structural shift in customer appetite,” Mirvac said in its HY23 statement.

“By 2030, LIV will make it an everyday reality for one million Australians to participate in a measurable contribution to a better planet, better communities, and a better life for themselves.”

How many will be aged over 55?