The decision by the retirement village operator to sell its entire portfolio of 10 retirement villages in Western Australia was announced in September last year.

"They are still on the market with interested parties doing due diligence. That’s all we can say at this point," said a Keyton spokesperson.

Cushman & Wakefield is selling the 1,568 independent living units and 71 independent living apartments for Keyton, which is owned by Aware Super (49.9%), APG Asset Management (25%) and Lendlease (25.1%).  

The 10 villages: Lakeside Village (Bibra Lake), Parkland Villas Booragoon, Woodstock West (Bunbury), Parkland Villas Ellenbrook, The Pines (Ellenbrook), Parkland Villas Mandurah (Halls Head), Harbourside Village Mindarie, Homestay Village (Queens Park), Parkland Villas Woodlands, and Timberside Villas (Wood Vale) are being offered in a package.  

"Divesting a portfolio of assets may seem counter-intuitive to our growth strategy, however, for a business of our size, which is looking to expand, we need capital to take advantage of the strongest growth opportunities in the Australian retirement living market," CEO Nathan Cockerill said in September last year.

"Selling a part of our portfolio, which is in prime condition to attract a strong price then allows us to put the funds earned from the sale back into opportunities that offer the greatest potential growth and future success for Keyton. 

"The clustering of our villages will also help us achieve some operational efficiencies to help contain our costs over the longer term."

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