Retirement living isn’t a “one-trick pony” anymore: why the model is changing fast

In this interview, Tony breaks down why retirement living isn’t just “property” - it’s real estate, hospitality, facilities management, development, and increasingly, care and support.

He shares the behind-the-scenes transformation that helped drive Aveo’s record $3.85 billion sale, including rebuilding the leadership team, refocusing the portfolio to metro locations on the eastern seaboard, boosting sales performance, and introducing new customer contract options designed for the changing expectations of baby boomers.

Tony also explains why cash yield and scale matter so much to institutional investors, what’s driving global capital interest in retirement living as an asset class, and why consolidation could accelerate quickly over the next few years.

Finally, he makes a direct call to government: if Australia is serious about the housing crisis and ageing well, retirement living needs clearer planning pathways and policies that actually enable downsizing, because purpose-built seniors living can free up larger homes for families and reduce long-term pressure on the system.