Aveo Group

Aveo Group
Public (ASX: AOG)
Industry Property, Retirement, Investment
Founded 1952, 1977, 1998
Headquarters Brisbane, Australia
Key people
 Seng Huang Lee (Chairman)
Geoff Grady (CEO)
Services Property development
Increase A$108.6 million AUD(2010)
Website www.aveo.com.au

Aveo Group is an Australian property and investment group, with a focus on retirement village ownership and management, property investment, and asset management, property development and construction.

Formerly known as FKP, the group was formed from Peter Kurts Properties and Forrester Parker Group. Peter Kurts Properties became a publicly listed company in 1970. Forrester Parker Group Ltd had its origins in a venture formed in 1979 between Rodney Forrester and Philip Parker. It was incorporated in 1987 and listed on the Australian Stock Exchange in 1993. FKP has grown over the thirty years since it was established to be included in the ASX top 200.[1]

The retirement business, as the largest division of FKP, owns or operates eighty-nine villages across Australia, under the Aveo Retirement Living brand.

Major development projects being undertaken by FKP include the Gasworks development at Newstead in Brisbane, Peregian Springs on the Sunshine Coast, and the Norwest Business Park in north-western Sydney, which is a joint venture between FKP and Mulpha Australia. The newest major development is another joint venture at Port Bouvard, in Western Australia.

On 1 November 2013 the company name FKP Limited was changed to Aveo Group Limited following shareholder approval.[2][3]

The trust name, FKP Property Trust, has now been changed to Aveo Group Trust and the responsible entity name, FKP Funds Management Limited, has now been changed to Aveo Funds Management Limited.

For ASX purposes, the name of the Group will change from FKP Property Group to Aveo Group and the effective date of that change is 6 November 2013. On that date, the ASX code will also change from “FKP” to “AOG”.

Aveo has achieved notoriety with allegations that its complex contracts and excessive exit fees are exploiting Australian retirees.[4][5]

References

  1. ↑ "ASX 200". Retrieved June 19, 2018.
  2. ↑ "Change of Name and ASX Code" (PDF). Aveo. Retrieved June 19, 2018.
  3. ↑ Cummins, Carolyn (2013-11-01). "FKP going in a new direction". The Sydney Morning Herald. Retrieved June 19, 2018.
  4. ↑ Ferguson, Adele; Danckert, Sarah (2017). "The Retirement Racket". The Sydney Morning Herald. Retrieved June 19, 2018.
  5. ↑ Ferguson, Adele; Danckert, Sarah; Toft, Klaus (2017-07-04). "Aveo: Exploitation of the elderly rife in retirement villages". Four Corners. Retrieved June 19, 2018.
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