Vision acquires late brother’s former retirement village
- Owner-operator milestone: Vision acquires its first retirement village
- Greglea purchase: Australian Unity sells 79-home Sydney community
- Portfolio growth: Acquisition expands Vision’s retirement living footprint
- Business as usual: Residents assured there will be no changes to services, staff or levies
After more than 20 years developing, managing and operating retirement communities for others, Vision Lifestyle Projects has taken the step into ownership.
Vision Lifestyle Projects has acquired Australian Unity’s Greglea Retirement Community in Penshurst, 17km south of Sydney’s CBD, for an undisclosed price.
For Vision LP Managing Director John Burgess, the acquisition marks a full-circle moment. His late brother, Peter Burgess – a pioneer of Australia’s modern retirement village sector – and his Retirement Living Services partners, Bill Riddington and Andrew Latimer, originally developed the boutique village before selling it to Australian Unity in 2003.
“It is personal for me,” John told The Weekly SOURCE.
The village, which features 79 independent living units held under strata title and serviced apartments, will keep its name and become the fourth retirement village under Vision’s management, joining Hunters Hill Lodge, Huon Park and The Grange at Berry.
The village offers a community centre, dining room, hair and beauty salon, a solar-heated swimming pool, library and lounge spaces, and a 24-hour emergency call system.
For Vision, the move reflects a long-term portfolio expansion strategy.
“For more than 20 years, Vision has advised and supported other operators to strengthen their retirement communities,” said John. “Acquiring Greglea is a chance to put our money where our mouth is – to apply that same expertise to a community we own ourselves, and to take the next step to owner-operator. Greglea is a well-established community, and we’re looking forward to being part of it for the long term.”
Vision said there would be no changes to services, staffing, village rules or resident levies for the 2026-27 financial year following the acquisition.
Representatives from Vision met with Greglea residents on 2 June to discuss the transition and answer questions, with the handover from Australian Unity completed in cooperation between the two organisations.
