The largest and third largest private village operators are heading towards the courts against each other. Lend Lease Primelife manages 12 Prime Trust villages. Prime Trust claims LLP (through its subsidiaries) has not been complying with its contractual requirements to pay the full rent and net ingoing contributions to Prime Trust. LLP has counterclaim that prime trust has a net debt to LLP.
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...