A strong year sets up Benetas’ next move
Benetas plans to build a new aged care facility after purchasing land at Keyton’s Sherwin Rise retirement village in Wollert.
Benetas has reported a significant turnaround in FY25, with the Victorian Not For Profit doubling its operating surplus from $6.4 million to $14 million.
The operator recorded a final net surplus of $11.7 million, up from a $0.5 million loss the previous year. The result incorporates a $3.7 million increase in managed fund investments but a $6 million fall in the value of its retirement village investment property portfolio.
Revenue climbed 6% to $229.7 million.
Growing footprint in residential care
As at 30 June 2025, Benetas operated 12 residential aged care facilities with 902 residents, alongside 525 retirement village residents, 1,453 home care clients and more than 8,000 veterans.
The footprint has since expanded. In August, the organisation acquired Moran Roxburgh Park – a 126-bed aged care home co-located with Benetas’ Bridgewater Lake Retirement Estate – taking its portfolio to 13 homes.
Benetas also plans to build a new aged care facility after purchasing land at Keyton’s Sherwin Rise retirement village in Wollert, 25km north of Melbourne’s CBD.
Affordable housing milestone
In their Year in Review, Chair Julia Pryor and CEO Sandra Hills OAM highlighted the opening of the affordable housing development at St Laurence Court Retirement Village in California Gully, Bendigo, as a standout achievement.
Stage One launched in March 2025, offering secure, affordable homes for over-65s facing housing challenges. Upgrades included new kitchens, bathrooms, flooring, double-glazed windows and refurbished interiors. The final two stages, totalling 20 units, were completed in late 2025.
In 2025-26, Benetas completed a refurbishment at Broughton Hall in Camberwell and commenced works at St Georges in Altona Meadows, with completion expected mid-2026.
