Summerset

What Summerset does

Summerset Group Holdings Limited is a New Zealand-domiciled, NZX (SUM) and ASX (SNZ) listed retirement village and aged care operator founded in 1997 and headquartered in Wellington. The company operates 44 villages completed or under development across New Zealand and Australia, housing 9,500+ residents across 7,198 retirement units and 1,475 care units, with an additional 6,672 units held in a land bank and 10 greenfield sites in the development pipeline. Its care services span rest home, hospital level, and memory care including the 2017 award-winning Summerset by the Ranges dementia facility that introduced one-bedroom apartment living for memory care residents.

The core operating model combines a one-time Occupation Right Agreement purchase with recurring village services fees, plus care revenue funded through Age-Related Residential Care Agreements with Te Whatu Ora. The proprietary technology stack centres on a Memory Care Centre platform with silent nurse call paging, sensory lighting, sensor bed mats, doorframe sensors, and behavioural pattern tracking, supplemented by smart water metering across villages, an outsourced Security Operations Centre for SIEM monitoring, and healthcare integrations including PainChek pain assessment, Tunstall nurse call, Honeywell Sine Pro visitor management, and Oracle Aconex construction lifecycle management. The company employs 3,200+ staff and is led by CEO Scott Scoullar (formerly CFO, appointed 2021) alongside CFO Margaret Warrington and seven independent directors chaired by Mark Verbiest.

Summerset earns revenue through three principal streams: (1) capital contributions from residents acquiring Occupation Right Agreements (1,560 sales in the most recent disclosed period), (2) recurring weekly village services fees for maintenance, security, and shared facilities, and (3) government-subsidised and private care fees. Capital structure relies heavily on NZ$600M of retail bonds across five issues on NZDX alongside asset-backed development finance, funding a build-out that delivered NZ$259.7M of FY25 net profit and NZ$548.2M of operating cash flow against NZ$9.2B of total assets. Go-to-market is direct-to-consumer via 38 existing regional villages, supplemented by information-pack digital lead generation, open days, a VIP waitlist programme, and an earned-media engine anchored on Reader's Digest Trusted Brand awards and 230+ community partnerships.

Name

Summerset

Legal name

Summerset Group Holdings Limited

Website

https://summerset.co.nz

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Summerset Group Holdings is a publicly listed New Zealand retirement village and aged care operator providing villas, apartments, serviced apartments, rest home, hospital, and memory care across 44 villages in New Zealand and Australia to 9,500+ residents through Occupation Right Agreements and recurring service fees.

Ownership category

akta.pro rank

Product category

Retirement Villages and Aged Care

NAICS

Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Assisted Living Facilities for the Elderly (623312), Nursing Care Facilities (Skilled Nursing Facilities) (62311), Nursing and Residential Care Facilities (623)

SIC

Services-Skilled Nursing Care Facilities (8051), Services-Nursing & Personal Care Facilities (8050), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Senior Living Property Management (BPAJAGAI)

akta.pro secondary industries

Senior & Assisted Living Residential Property Management (BPAJAFAE), Memory Care Units within Assisted Living Communities (HLADACAB)

Keywords

• Retirement village operator
• Aged care services
• Independent senior living
• Dementia memory care
• Residential care facilities

Headquarters

HQ city

Aotea

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Sales of Occupation Rights: Initial payment from residents to occupy a retirement unit (villa, townhouse, apartment). Residents purchase an Occupation Right Agreement which gives them the right to occupy the unit. This is the primary revenue driver for village development and growth.
2. Ongoing Village Services Fee: Recurring fees charged to residents for maintenance of common areas, village management, security, and access to facilities. Generates consistent recurring revenue stream.
3. Care Services Revenue: Revenue from providing rest home, hospital level care, and memory care services. Care services are funded through a combination of resident fees and government subsidies under Age-Related Residential Care Agreements with Te Whatu Ora.
4. Retail Bonds: Company issues retail bonds quoted on NZDX providing debt funding. Five bond issues currently providing NZ$600 million of funding to Summerset.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Summerset develops, owns and operates retirement villages across New Zealand and Australia, providing a continuum of care that spans independent living (villas, townhouses, apartments), serviced apartments with support, rest home and hospital-level care, and specialized memory care for residents living with dementia. Residents acquire an Occupation Right Agreement to occupy a unit and pay recurring village services fees, with care funding partly subsidised by Te Whatu Ora under Age-Related Residential Care Agreements.

Product overview

Summerset operates a portfolio of retirement villages across New Zealand and Australia, offering a continuum of care from independent living (villas, townhouses, apartments) to supported care options including serviced apartments, rest home and hospital-level care, and specialized memory care. The core product is the retirement village independent living offering, which is supplemented by care and support services. The Memory Care Centre provides specialized dementia care with technology-enabled monitoring systems, while Serviced Apartments offer assisted living support. Summerset Scene is the company's quarterly community magazine.

Differentiator

Problem solved

Functional benefit

Products and services

• Summerset Retirement Villages (Independent Living) Independent living retirement units (villas, townhouses and apartments) within Summerset villages across New Zealand and Australia, designed for residents aged 70+ who want a maintenance-free, secure community lifestyle with access to facilities, events and on-site care options if needed.
• Serviced Apartments Assisted living apartments providing additional support and care services for residents who need help with daily activities, located within Summerset villages.
• Rest Home & Hospital Level Care Higher-level aged care services for residents requiring rest home or hospital-level clinical support, delivered from on-site care centres within Summerset villages and funded via resident fees and Te Whatu Ora subsidies.
• Memory Care Centre Specialised secure memory care apartments for people living with dementia, combining technology-enabled monitoring (silent nurse call paging, sensory lighting, sensor bed mats, doorframe sensors, behavioural pattern tracking) with apartment-style living, delivering customised programmes based on individual behavioural patterns.

Quantifiable outcome

• 91% village resident satisfaction FY25
• +5 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

20 partnerships are on record, tiered minor, national, regional and core.

• Australian Red CrossminorOthers · 2 March 2020Charitable partner receiving $10,000 donation from $20,000 raised by Summerset villages for Australian bushfire relief efforts.
• WIRES (Wildlife Information, Rescue and Education Service)minorOthers · 2 March 2020Australian wildlife rescue organisation receiving $10,000 donation from $20,000 raised by Summerset villages for bushfire relief, including knitted pouches for injured animals.
• Netball New ZealandnationalGTM or Marketing PartnerNational partnership supporting healthy, vibrant and active ageing through sponsorship of netball, a sport popular among older adults. Partnership reflects commitment to activities that support physical wellbeing and community engagement.
• Bowls New ZealandnationalGTM or Marketing PartnerNational partnership with bowls organisation supporting residents who enjoy the sport and community competitions. Includes sponsorship of Summerset National Mixed Pairs tournament.
• Indoor Bowls New ZealandnationalGTM or Marketing PartnerPartnership supporting indoor bowls competitions and community participation among residents.
• Dementia New ZealandnationalStrategic or Co-development PartnerNational partnership supporting people living with dementia. Aligns with dementia-friendly accreditation programme and commitment to dementia care excellence across all villages.
• Alzheimer's New ZealandnationalStrategic or Co-development PartnerPartnership and accreditation programme. Summerset achieved dementia-friendly accreditation following 18 months of work across all villages, demonstrating commitment to seven standards for dementia-friendly organisations.
• Pickleball New Zealand AssociationnationalGTM or Marketing PartnerPartnership supporting pickleball, a growing sport in New Zealand retirement communities. Promotes active ageing and physical activity among residents.
• Golf New ZealandnationalGTM or Marketing PartnerPartnership supporting golf as a recreational activity popular among older adults, promoting active lifestyle and community connections.
• Art in the ParkregionalGTM or Marketing PartnerSponsorship of art event promoting cultural engagement and creative activities for residents and local communities.
• NZ Art ShownationalGTM or Marketing PartnerPartnership supporting national art exhibition, promoting cultural engagement and appreciation of arts among residents.
• BrainTreeregionalStrategic or Co-development PartnerPartnership with Canterbury brain collective supporting brain health and cognitive wellbeing among residents.
• GT NZ ChampionshipnationalGTM or Marketing PartnerPartnership supporting motorsport championship, providing unique experiences for residents including once-in-a-lifetime opportunities like race car experiences.
• Climate Leaders CoalitionnationalStrategic or Co-development PartnerMember of Climate Leaders Coalition, demonstrating commitment to sustainability and climate action with science-based emissions reduction targets.
• New Zealand Green Building CouncilnationalStrategic or Co-development PartnerMembership in organisation promoting sustainable building practices, aligning with commitment to environmental responsibility in village development.
• Toitū EnvirocarecoreTechnology or IntegrationEnvironmental certification body providing Toitū Carbon Reduce certification. Provides independent assurance of emissions management approach meeting ISO 14064-1 standard.
• Kiwi eggs at National Hatchery AotearoaregionalGTM or Marketing PartnerSponsorship of kiwi eggs at National Hatchery Aotearoa near proposed Fairy Springs village in Rotorua, supporting conservation and community engagement.
• ESG WorldcoreTechnology or IntegrationPartnership providing accessible, transparent ESG tracking platform where stakeholders can track progress, explore commitments and see how villages are developed responsibly.
• Hato Hone St JohncoreStrategic or Co-development PartnerEmergency services partner for ambulance and emergency response coordination. Summerset has donated defibrillators through Rotary club partnership.
• Te Whatu Ora (Health New Zealand)coreStrategic or Co-development PartnerGovernment health authority partner under Age-Related Residential Care Agreements providing funding for rest home and hospital level care services.

Scale indicators19 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Ryman Healthcare: New Zealand's largest retirement village operator with integrated continuum of care from independent living to hospital and dementia care. Directly competes with Summerset across NZ regions using a similar ORA model and government-subsidized care services.
• Arvida Group: NZ retirement village operator providing independent and assisted living plus aged care services across the country. Comparable business model with ORA structure and continuum of care, though smaller scale than Summerset.
• Metlifecare: NZ retirement village and aged care operator offering independent living, rest home, hospital, and dementia care. Was NZX-listed before being acquired by EQT in 2021, providing direct comparison on operating model and unit economics.
• Aveo Group: Australia's largest retirement living operator with over 90 communities across the country. Direct peer given Summerset's Australia expansion plans, with similar continuum-of-care model adapted for the Australian regulatory environment.
• Opal Healthcare: One of Australia's largest aged care providers with over 80 residential aged care homes. Comparable care services model focused on dementia and complex care, with overlapping customer segments in the Australian market.

Broad incumbents

• Stockland: ASX-listed diversified property developer with retirement living as one of several business lines including residential, commercial, and logistics. Provides incumbent comparison for retirement village development expertise at scale, with Stephen Bull (Summerset director) having led their retirement village business.
• Bupa Australia and New Zealand: Global health and care provider operating aged care facilities across Australia and New Zealand. Provides aged care services comparable to Summerset's care segment, though broader in healthcare scope and not focused on independent retirement living.

Regional players

• Estia Health: ASX-listed aged care provider operating residential aged care homes primarily across Australia. Comparable care services segment with overlapping government funding model, though focused on residential aged care rather than independent retirement villages.
• Regis Healthcare: ASX-listed residential aged care provider in Australia with over 60 homes. Comparable care services segment though primarily focused on residential aged care with limited retirement village offering, useful for care segment benchmarking.

Emerging players

• Promisia Healthcare: Smaller NZ aged care operator providing rest home, hospital, and dementia care. Comparable care services offering with government-subsidized revenue model, though smaller scale and more focused on care-only versus integrated retirement village model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Summerset