Cromwell Property is the latest group to expand into the seniors villages sector, buying The Landings in the Sydney suburb of Turramurra, for $60 million.

It will be the second such purchase for its seniors living joint venture, LDK Healthcare, with the first being a planned 390-apartment, 500-resident seniors village at Tuggeranong in Canberra.

Cromwell chief executive Paul  Weightman, said seniors living is a thematic ''which we believe has a lot of potential''.

''Our joint venture, LDK Healthcare, led by LDK managing director Paul Browne, will shortly take over operational responsibility at The Landings,'' Mr Weightman said.

He added that LDK will begin rolling out its membership model including the One Move Promise, whereby residents can enjoy the lifestyle they choose, with their own self-contained home, for life.

The Landings  contains 106 three-bed villas, known as independent living units, as well as 114 one-, two- and three-bed independent living apartments. It was developed in stages, starting in 2003 to 2103.