RetireAustralia is in good shape as its New Zealand-based owners Infratil and NZ Super move to sell, with underlying profit up almost 40% in the six months to 30 September 2022.
The operator, which reportedly has two interested suitors in Lendlease and Australian Unity, has enjoyed strong sales and high demand.
According to Infratil’s Annual Report, as at 30 September 2022, RetireAustralia had 93.3% occupancy across its portfolio (up from 92.3% at the end of March this year, and the highest result since 2017) and waitlists at 20 of its villages, up from 15 at the end of March.
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RetireAustralia saw Underlying Profit of A$31.9 million, up A$9.1 million (39.9%) from the prior period, with strong demand driving 227 unit resales and 10 new unit sales during the six months,” said Infratil CEO Jason Boyes (pictured).
“The sales process remains ongoing, and we will update the market as the process progresses.”
RetireAustralia increased unit prices at its villages in August, and currently has four sites under development plus a recently-submitted DA for a 52-unit vertical village at Lane Cove on Sydney’s Lower North Shore.
