Seasons Supported Living has bought the financially troubled Lifestyle Estates retirement village in Ipswich, west of Brisbane. The company has served eviction notices on 46 tenants amid reports that they intend to convert the property into an aged care facility to increase profitability. Seasons managing director Paul Browne said residents had been asked to relocate by March 2011. It is unclear whether Seasons has received or applied for planning permission to transform the property into an aged facility which could leave them open to fines and more bad press.
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...