Summerset Group has overtaken Ryman Healthcare to become New Zealand’s most valuable retirement village operator, as it accelerates its Australian pipeline with plans to deliver 300 homes in Victoria within three years.
The NZX- and ASX-listed operator now boasts a market capitalisation of NZ$5.27 billion – above Ryman’s NZ$4.21 billion – and has labelled itself the country’s fastest-growing retirement village operator.
Summerset recorded record first-half sales of 692 homes in the six months to 30 June 2025, comprising 354 new sales (up 22% on 1H24) and 338 resales. The company reported an underlying profit of NZ$106.6 million for the half, up 19% on the prior year, with overall profitability after tax climbing 26% to NZ$127.2 million.
“Our land bank has 5,800-plus retirement units and 1,300-plus care units,” CEO Scott Scoullar said.
“The markets in New Zealand and Australia are both showing signs of improvement but it’s still a challenging economic environment to operate in. Despite this we’ve delivered value for our shareholders, maintained our record resident satisfaction and had record sales for the half.”
Australian expansion gathers pace
Summerset has seven sites across Melbourne and three villages currently under construction.
- Cranbourne North – village centre (including pool, café and the first care offering in Australia) due to be handed over by year-end.
- Chirnside Park – first villas scheduled for delivery by year-end, with full village opening in 2026.
- Torquay – enabling works are underway, with construction progressing.
- Oakleigh South – construction expected to commence in 2026.
“We’re on track to deliver 50-80 homes in Australia this year, rising to approximately 300 in three years’ time,” Scott said.