Summerset to build “300 units a year in Victoria in 2027”
Summerset accelerates Australian retirement living push
- Big pipeline: 2,300+ retirement units planned across Victoria
- Rapid growth: Build rate targeted to hit 300 units annually by 2027
- Care model: Continuum-of-care approach positioned as key differentiator
- Next move: Queensland expansion under consideration
With a land pipeline of just over 2,300 independent living retirement units in Victoria, the New Zealand-based retirement village operator is making its mark in Australia.
In an Investor Day presentation, Chief Operating Officer Australia, Stewart Scott, and Riet Bersma-Rees, Head of Sales Australia, said the Summerset continum of care model is a clear point of difference in Australia.
The operator now has a footprint of eight sites in Victoria with four in construction and two villages delivering units (Cranbourne North and Chirnside Park).
Its six-hectare site in Mornington has also been approved, which will include:
- 80 independent living units (ILUs) and 64 residential townhouses; and
- 77 aged care beds and 15 assisted living apartments.
Summerset said it has lifted from 10 units being built in Australia in FY23 to between 100 and 150 in FY26 and is now targeting a build rate of 300 units in 2027. The aim to have an Australian portfolio of above 500 units by 2027 across the four sites.
The operator is also looking to move into Queensland, as shown below, a decision which it says it will defer if the economic conditions worsen in Australia (see page 9).
Oakleigh South, 17km southeast of Melbourne’s CBD, will be its third Victorian retirement village with basement excavation works complete with first homes delivered in 2027.
