The New Zealand-based retirement village operator is reaping the rewards of introducing upfront payments for its care suites, reporting record sales in the second quarter of the year.
“We have continued to sell new Care Occupation Rights Agreements (ORA) and convert our care rooms to ORA as we seek to improve our care profitability,” Summerset CEO Scott Scoullar said this morning (Tuesday 7 October). “In Q3 29% of sales were Care ORAs (38% of new sales and 16% of resales). New and current residents have warmly welcomed this offering as an alternative to paying daily premium charges.”
Summerset reported 420 sales for the quarter ending 30 September 2025, comprising 244 new sales and 176 resales.
In Victoria, the company confirmed it has begun construction on its fourth village, which is in Oakleigh South, 17km southeast of Melbourne's CBD, with a sod turning event to celebrate the occasion being held later this month. The first villas at its Chirnside Park village will also be completed with first residents to be welcomed in the second quarter of 2026 when the village will officially open.
Summerset has three villages in development in Victoria (Cranbourne North, Chirnside Park and Torquay) and owns four other proposed sites in Craigieburn, Drysdale, Mernda and Oakleigh South.
The group remains on track to deliver its FY25 forecast of 650-730 homes by the end of the year, including the delivery of village centre buildings at Cambridge in the Waikato and Cranbourne North in Melbourne.
