Summerset flags Melbourne continuum-of-care debut and interstate push

The New Zealand-based continuum of care operator today delivered a record underlying profit of NZ$234.2 million (AUD$197.06 million) for the 2025 year, up 13% on FY24.

Summerset recorded 1,560 total sales of occupation rights, up 26% on FY24, with 693 new homes delivered under occupation right agreement (637 in New Zealand and 56 in Australia). The group has a land bank of 5,499 retirement homes and 1,173 care homes between the two countries.

Summerset Group Chief Executive Officer Scott Scoullar said the company is now seeing its Australian projects start to gain momentum.

“We delivered our first village centre building at Cranbourne North in Victoria, marking a key milestone as we prepare to deliver aged care for the first time in Australia,” Scott said.

“At Chirnside Park, our second Australian village, the first villas were completed in Q4 with strong early demand resulting in half of the first stage sold in the first few weeks. Construction is now underway at two further villages – Torquay and Oakleigh South.”

Summerset’s Australia team is now working through the necessary steps to operationalise the village centre at Cranbourne North, including hiring and training staff, finalising accreditation for its care services, and embedding legislative requirements under the new Aged Care Act which came into force on 1 November 2025.

“We’re very excited to be bringing our full continuum-of-care to Australia. We expect to welcome our first Assisted Living residents in Q1 of FY26 and to begin providing care from Q2,” said Scott.

Summerset also announced to the NZX and ASX that it has lodged a Planning Permit with the Victorian Development Facilitation Panel for a new village in Mornington, reported first in The Weekly SOURCE last Tuesday.

“We continue to look for the right opportunities to add to our Australian land bank, including in Queensland,” Scott added.

“We continue to believe in our value proposition in both New Zealand and Australia going into FY26. Even in constrained trading conditions we have continued to see extremely high demand, record sales numbers and have continued to deliver on our expected build rate in both Australia and New Zealand.”