In April 2024, the Brookfield-owned retirement village operator announced it was selling its 15 retirement villages in South Australia and its two villages in Tasmania to become an East Coast operator.
In August last year, Aveo announced it had sold 13 of its South Australian villages for $122 million to Not For Profits Resthaven and Eldercare, both part of the UnitingCare Australia network. This followed the sale of Aveo’s Kings Park Retirement Village, 4km south of Adelaide's CBD, to Adelaide investment firm ICAM; and Ackland Park retirement village to Auscare. Aveo also sold five regional retirement villages to Teman Communities in July 2024.
Aveo last Friday (21 March) said it had now decided to keep its TAS retirement villages, the 153-home Derwent Waters Retirement Living at Claremont, 6km north of Glenorchy, and Mowbray Links in Launceston.
“We were pleased with the outcome of the sale of the South Australian villages and the buyers of that portfolio don’t have a presence in Tasmania, so given the high quality and strong performance of Aveo’s Tasmanian villages we decided to maintain ownership of them and operate them as part of the Victorian portfolio,” a spokesperson said.
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