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Aveo Group (ASX:FKP) has exchanged an unconditional contract to sell its remaining lots in a Melbourne development for $9 million, another step towards becoming a pure play retirement group.



The sale, of lots in the Aerial development at Camberwell in Melbourne, has been struck at a 1 per cent premium to book value.



The lots have been acquired by an offshore private investor and settlement is expected to occur in early February next year.



CEO Geoff Grady says the disposal of the retail lots is in line with the group’s continuing strategy of divesting non-retirement assets.



Aveo Group, formerly FKP Property Group, reported a $179 million loss in fiscal 2013.