Retirement giant Aveo to build at Sanctuary Cove, Mulpha owns part of Aveo

A CONTROVERSIAL retirement village company has plans to build at Sanctuary Cove, and they have a close connection to the owners of the whole community.

The exclusive community of Sanctuary Cove will soon be able to develop retirement villages.

SANCTUARY Cove’s first retirement village under new zoning will allow developers to bypass a residency limit in the exclusive gated community.

Investors and developers Mulpha Australia, which owns the whole of Sanctuary Cove, sold a $15-million block of land to retirement giants in Aveo in 2014.

Mulpha also owns 22.7 per cent of Aveo.

Aveo did not have permission to build until legislation allowing rezoning was amended.

Last week it was reported Sanctuary Cove would be permitted to build retirement homes after the State Government amended planning laws.

Since it opened in 1988, Sanctuary Cove has been governed by its own bill in the Parliament.

Mulpha general manager Stephen Anderson said that while Aveo is an “associated company” of Mulpha, Sanctuary Cove locals were in favour of the sale.

“Aveo is an associated company of Mulpha, we have 22 per cent of it,” he said.

“We sold the land in 2014, quite a large block – $15 million.

“That was our land, that money went back to Mulpha.

“The body corporate did vote in favour of it.

“Some people don’t like it, they say it’s a nasty product, that’s their view.

“As long as the quality is there I have no concern.”

Aveo made headlines last year when an investigation into the company uncovered claims of exploitation of the elderly in the form of complex, unrealistic contracts and exorbitant exit fees adding up to hundreds of thousands of dollars.

An Aveo retirement home in New South Wales.

They face two ongoing ‘’no win no fee”” class action lawsuits from Maurice Blackburn Lawyers and Levitt Robinson Solicitors, who are currently in the evidence gathering stages.

Aveo CEO Geoff Grady confirmed the company is in the planning stage to build at Sanctuary Cove.

He said the resort would offer a “improved affordability” and new contracts.

“The Sanctuary Cove development ... aims to offer seniors both independent and aged care residential options,” he said.

“The development has been designed to suit the Sanctuary Cove Resort community and its support residents through all stages of retirement and aged care living.

Sanctuary Cove is known for being exclusive and luxurious.

“Prospective residents at the Sanctuary Cove community will have access to Aveo’s new suite of contracts that offer enhanced conditions, greater flexibility and improved affordability.

“The new suite of contracts ensures prospective new residents at the Sanctuary Cove community have access to choice and increased financing options as they enter a new phase in their life.”

Gold Coast City Council planning committee chairman Cameron Caldwell said the council had no jurisdiction over Sanctuary Cove development.

“That all goes through the State,” he said.

“The council has no jurisdiction over what they do on their land.”