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Sector Moves/People

Aveo commits to long term retirement village growth with purchase of prestige land packages for $54 million

1 min read

Aveo CEO Geoff Grady (pictured) is moving forward aggressively, repositioning Aveo into the leading village developer in the sector. They have exchanged contracts on two high profile sites to be developed as major new retirement hubs, one in Sydney at the Norwest Business Park and one at Sanctuary Cove on the Gold Coast.

Totalling 14.4 ha, Aveo plans to build 740 high quality retirement units/aged care beds with an end value of $380 million. They are expected to come online from 2017. Aveo reports discussions are advanced for a major care operator to deliver a low, high and dementia care facility at the Norwest Park.

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