Aveo delivers major investment for next generation of retirees

Aveo is investing in a major construction and refurbishment program across its New South Wales retirement communities for the next generation of retirees, delivering modern and stylish homes, vibrant and connected communities, and communal spaces that are purpose-built for fostering connection, wellness, and active lifestyles.

Australia’s most innovative retirement living provider is delivering the circa $10 million capital works program during 2024 to transform some of its existing NSW community facilities and provide more modern communal amenities that can serve as an extension of a resident’s home.

Chief Executive Officer, Tony Randello, said Aveo was reshaping its communities and building more homes to help cater to an estimated 710,000 Australians who will become retirees over the next five years.

“The new generation of retirees are healthier and more lifestyle-oriented than previous generations and we are designing Aveo communities to suit,’’ he said.

One of Aveo’s high-end communities, The Manors of Mosman in Sydney’s prestigious harbourside recently underwent a stunning transformation with a stylish new community centre offering a restaurant, bar, and lounge for residents to enjoy with family and friends.

Refurbishments across Aveo’s NSW communities will continue throughout 2024. Upgrades have recently been completed at Peninsula Gardens Retirement Living and are now underway at Minkara Resort in the Northern Beaches as well as Lindfield Gardens and Fernbank Serviced Apartments on Sydney’s North Shore.

“We are investing in providing contemporary homes that meet the needs of downsizing Australians and upgrading
community centre amenities to create more opportunity for social connection and activities, helping retirees to stay
healthier and happier,” Mr Randello said.

Research from Australia’s Retirement Living Council shows that residents of retirement communities are 41% happier, 15% more active, and five times more socially active than their counterparts who live alone at home.

Mr Randello said that in addition to the capital works program, Aveo has commenced the next stages of construction of apartments and villas at two NSW master-planned Aveo communities, Bella Vista Haven and Shortland Waters.

The circa $60 million building program at Bella Vista Haven Retirement Living in Sydney’s Hills Shire will deliver 83 stylishly appointed two and three-bedroom apartments, and a proposed multi-lane pool precinct.

Aveo is also investing around $40 million to provide the next two stages of villas at Shortland Waters Retirement Living community, 10km from Newcastle, in the Hunter Valley neighbouring an 18-hole golf course.