The aged care community company Aveo Group
(ASX:AOG) says its reached a deal with Springfield Land Corporation to develop an integrated seniors living Campus in Springfield in Queensland.
The company will develop up to 2,500 new housing units as well as health facilities in a project to be called Aveo Springfield.
CEO Geoff Grady says this innovative approach is part of the company’s strategy to be Australia’s leading pure retirement group.
Aveo has already outlined a pipeline of 2,834 new units to be built and this project will extend the company’s 15 year runway.
Aveo reported a net profit of $30.9 million in the first half of the 2015 financial year.
