SA Profit For Purpose ECH buys three micro retirement villages from KeyInvest

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The Group has purchased three villages – Green Gate, St Georges and Beaumont – which comprise 24 units for an undisclosed price from the Adelaide-based financial services and retirement living provider on 1 May.

The acquisition leaves KeyInvest with six villages in SA and one in Victoria.

ECH is also planning a new development at the Penneys Hill Estate in Hackham, 33km south of the CBD, with 15 two-bedroom units due to be complete by January 2019.

ECH now ‘owns’ 103 villages with 1,671 units across SA. About 100 of them are in fact ‘cluster homes’ of four to eight residents in a suburban street but operate under the Retirement Villages Act.