The best known brand in the village sector, Primelife, has been quietly buried by its latest owner, Lend Lease. Melbourne village pioneer, Ted Sent, built Primelife up to 3,950 ILUs. He then sold to corporate investor Babcock & Brown, who rebranded the villages Babcock & Brown Communities. The GFC hit them and Lend Lease progressively stepped in, rebranded the village operations as Lend Lease Primelife. With 100% ownership and 12,000+ residents, they will simply be known as Lend Lease villages. With the increasing village resident militancy across the country, 32 aged care facilities including 9 co-located, is there is a real potential of negative media exposure and risk for Lend Leases brand?
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...