The quiet achiever in the retirement living and affordable housing sector is Aspen Group, led by Joint CEOs David Dixon (pictured below) and John Carter.
They are delivering a disciplined business model of serving the 50% of Australians that are less well off, providing affordable housing under $400,000, including land lease, and rental accommodation at around $300 per week.
And they are very good at it, as their results for the Half Year above indicate.
Reflecting their thoroughness, they explain all their metrics in the just released Aspen results presentation, which we commend to everyone in the sector to read. It is a lesson on how a lean management group can deliver great outcomes – and a surplus.
It is also one of the best investor stacks we have seen.
They demonstrate that ‘for purpose’ can also be very good business.
David joined us in our Westpac Conversations At The Wharf luncheon series last November. You can hear his different views on land lease communities here.
