VINEYARD TO BE PRUNED

RETIREMENT village operator Aveo appears to be getting a bit of traction in its move to ‘retire’ its investment in a 153ha Currumbin Valley tagged Martha’s Vineyard.

Approved for 348 lots, it was bought by forerunner FKP for $75 million 12 years ago and inheritor Aveo looks set to take a bath. A potential $20-million sale apparently collapsed several weeks ago and the land’s since been scrutinised by a Chinese party.