Aveo Group’s retirement village, a former Freedom community once known as Tree Tops, in Loganholme, 30km south of Brisbane, is for sale.

“The decision to close the Tanah Merah retirement village follows a gradual decline in occupancy. Feedback from prospective residents is that it didn’t meet their lifestyle needs.”

Built in stages between 2008 and 2018, the 124-unit Tanah Merah Village is on 2.3ha of land and includes a commercial kitchen, community centre and swimming pool. Improvements needed would cost more than $60 million, according to CBRE agents Marcello Caspani-Muto, Jimmy Tat, Sandro Peluso, Will Carman and Adelaide O’Brien. A 6207msq undeveloped piece of land is included in the sale.

It is the third former Freedom home to be put on the market after two former Freedom aged care homes were sold to the Queensland Government. Aveo purchased Freedom Aged Care in 2016.

The SOURCE: Aveo appears to be leaving its Freedom Private Aged care strategy initiated by the previous management behind it.