Love Ageing

Aveo raises its retirement development target from 30 to 500 units a year

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The listed village operator has told The Australian it will sell its office and retail assets in Brisbane’s Gasworks precinct and its remaining land banks by the end of FY19 to focus exclusively on retirement living.

Currently 87% of its holdings are in the retirement sector.

CEO Geoff Grady said they will also invest an extra $800M in capital into a share buyback and expansion of its retirement assets.

“By any measure these are major commitments. No other operator in the country is putting that much new product on the ground. That is keeping up with our share of the Australian retirement market,” he said.

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