The Brisbane-based retirement village operator, jointly owned by Infratil and NZ Super, has a development pipeline of more than 750 units, with 187 currently under construction across three active sites: Tarragal Glen in Erina, 81km north-northeast of Sydney; Carlyle Gardens in Bargara, 384km north of Brisbane; and Arcadia Retirement Living in Yeronga, a riverside suburb in Brisbane’s south.
The infrastructure investment company, which announced a net loss of NZ$263.1 million for FY25 on Wednesday (28 May), praised the strong contribution of RetireAustralia to its full year results.
RetireAustralia achieved an underlying profit of AUD$80 million, a AUD$1 million increase on the prior year supported by strong resales and village price increases, offset by lower development settlements.
Other highlights include:
- 430 settlements were completed: 374 resales and 56 new development unit settlements. Resales were down from the prior year due to limited stock availability.
- Resale proceeds averaged AUD$205K per unit, up from AUD$191K in FY24, reflecting strategic pricing and unit mix. New unit prices exceeded AUD$1 million on average.
- Portfolio occupancy remains high at 96.2%, with waitlists across 26 of 29 villages, reflecting sustained demand.
- Resident satisfaction also continues to be high with 87% of residents and 88% of home care customers satisfied with village life and home care services respectively.
- RetireAustralia’s first integrated Care Hub was opened at The Verge at Burleigh on the QLD's Gold Coast.
“Our strong results are indicative of our shared vision and purpose, and the depth of expertise and resilience within the RetireAustralia team. Our steadfast focus on our strategic priorities, disciplined approach to financial performance alongside resident and employee experience, and our adaptability to macroeconomic changes has seen us consistently deliver positive results while continuing to build momentum for future growth," said CEO Dr Brett Robinson.
"Perhaps most tellingly, our resident and employee satisfaction scores were extremely positive. As a human services business, we firmly believe that a strong company culture and resident experience go hand in hand with financial excellence.”
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