Mark Verbiest (pictured), Chair of Summerset Group, outlined at its annual general meeting last Wednesday, how the New Zealand operator will transform the retirement and aged care landscape in Australia.

“With the acquisition of two further sites in Victoria – Drysdale and Mernda – we now have seven Australian sites, giving us excellent capacity looking forward, with a land bank with potential capacity to build over 2,100 units (including 450 care beds) and an aggregate projected investment of $1 billion,” Mark said.

“Our first Australian village in Cranbourne North is the most advanced of our properties with construction having commenced on our first villas recently and first residents projected to move in early 2024.”

He told shareholders construction of Summerset Group’s site in Chirnside Park, 38km northeast from Melbourne's CBD, will begin later this year.