Keyton has closed the doors on its only all-serviced apartment retirement village, Goodwin Close in Blackburn South, Melbourne, after years of struggling to attract new residents.
The 49-apartment village, located 16km east of the CBD, had just 15 residents when the decision was made to wind down operations.
“Goodwin Close, as our only all-serviced apartment village, faced persistent challenges in attracting new residents despite significant investment. Ultimately, the model no longer supported the kind of community experience we strive to deliver,” Keyton Chief Executive Officer Nathan Cockerill told The Weekly SOURCE.
Serviced apartments – or assisted living options within retirement villages – have long been a difficult product for the sector. However, Aveo Chief Executive Officer Tony Randello has previously said his business has been able to run profitable serviced apartment models.
Transition completed by June
The first resident left Goodwin Close in March, with the remaining 14 moved out by June. Keyton supported each resident through a personalised transition process, with many relocating to the operator’s Highvale retirement village in Glen Waverley, while others entered residential aged care.
“No resident was worse off as a result of the move,” a Keyton spokesperson said.
“At Keyton, our priority is always the wellbeing of our residents, and I am very proud of our staff who worked so hard to make this resident move a success,” Nathan added.
“We received very positive feedback from both residents and families around how considered we were and how open we were throughout the process. Closing a village is a tough call to make, and our decision to close and sell Goodwin Close was made with great care and in close consultation with residents and their families.”
Second sale process in 12 months
Goodwin Close is now being sold through agents Gross Waddell ICR.
The move follows Keyton’s decision last September to put its portfolio of 10 retirement villages in Western Australia on the market, reflecting the operator’s ongoing reshaping of its national portfolio.
