Regis Aged Care has revealed a dramatic expansion of its development pipeline, with nine greenfield projects now in play and more than 1,000 new beds on the way, according to a presentation delivered at the Macquarie Australia Conference.
The ASX-listed provider now has 1,037 new beds across its pipeline. Based on our estimated build cost of $550,000 per bed (including land), that places the total value of Regis’ planned developments at over $570 million – nearly double the pipeline reported in its February results.
Two projects – Toowong and Carlingford in NSW – are already under construction, while the Belrose development is expected to commence in FY2025–26.
The momentum marks a significant shift for Australia’s third-largest aged care provider, which just 12 months ago had only four long-standing greenfield projects in the pipeline. Regis now says it plans to complete two to three developments per year and has already acquired five new development sites this financial year alone.
Another site in Newport, Victoria, 7km southwest of the Melbourne CBD, is expected to settle before 30 June 2025, with further acquisitions anticipated into FY2025–26.
The company’s resurgence is underpinned by strong balance sheet capacity. In its FY24 results, CFO Rick Rostolis said Regis had “considerable firepower” for growth through acquisition, refurbishment, or new developments.
Currently, Regis operates 68 aged care homes with around 7,600 available beds. It has also moved to diversify its services, acquiring home care provider BodeWell Community Care from the Knowles Group in February – doubling its home care footprint.
