In three years Aveo has transformed its marketing and sales into the largest volume seller of retirement village homes.
This has generated significant cash for Aveo’s owner, Brookfield. Tony Randello, Aveo Group CEO, told a RVA NZ Conference in Fiji in August 2023 that Aveo had $750 million in unsold homes when he accepted the offer to move from CEO of Lendlease Retirement in July 2020 (Read the full story here). They have been largely sold.
Aveo has moved from 1,000 units sold a year to 1,200 to 1,500 units. In 2023, Aveo achieved 1,444 homes.
“The majority of our communities are now sold out and have a growing wait list. With significant investment in renovation works, our communities are presenting beautifully, and this is supporting, not only our strong sales number, but strong price growth as well,” said Claire Leonard, Corporate Affairs Manager.
The Clayfield vertical retirement village in Albion, an inner northeastern suburb in Brisbane (pictured above), is an example of the breadth of pricing Aveo offers. Prices have ranged between $370,000 and $1.8 million for a one-of-a-kind, very large apartment. The majority of sales are between $650,000 and $950,000, well below the median house price of Albion ($1.3 million June 2023 - May 2024)
Canadian owner Brookfield is now seeking a buyer/buyers for Aveo (Read the full story here) for a rumoured $3 billion.
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