The 84 year old owner of Lavender Village, a home park in Highton (Geelong) is closing the 18 lot village on 1 hectare of land rather than go into debt to pay for safety measures. Residents have been told to move their homes by December 2013 or lose them, including residents who have bought in the past 5 months. With life savings used to pay around $105,000, the homes are quoted to be worth now around $65,000. Rent is $100 per week.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...