Aveo to fast track release of apartments to meet buyer demand


Aveo Group has announced it will fast track the second release of independent living apartments in Brisbane to meet unprecedented demand from retiree buyers after two months on the market.

The listed retirement provider will release for early sale an additional 27 apartments from the first stage of the $280 million redevelopment, which is set to become South East Brisbane’s largest retirement community.

Aveo Group CEO Geoff Grady attributes stand out buyer interest to the community’s proximity to key shopping hub, Westfield Carindale, and increased demand from local seniors to remain within the area.

“Many of the enquiries for this community are from seniors in the local area who say they love the region and don’t want to live anywhere else,” Mr Grady said.

“We also know that seniors aged over 65 will make up 13.7 percent of the population in Carindale by 2021, so preparing adequate infrastructure now to cater to this increased demand is crucial.

“The high volume of retirees buying off the plan ahead of the first-stage completion demonstrates how important redevelopments like Aveo Carindale are to ensuring retirees can continue living within their local community as their lifestyle and care needs change.”

The existing community located opposite Westfield Carindale was established in 1985 and the $280 million redevelopment will occur over six stages to deliver 432 independent living units and a 115-bed high care facility.

The first stage is due for completion in July 2019 with independent living apartments priced from $295,000. The first display apartments open for public viewing early June.

Construction is also on target to deliver the new community and lifestyle amenities including health care consulting rooms, a restaurant and bar, gymnasium, swimming pool, movie theatre, library, games room and beauty salon.

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