Annual Report Highlights $2.6 million* in Benevolent Support!
The latest Vasey Communities Annual Report for 2025-2026 Financial Year has just been released, and it tells a very positive story about the benevolent impact delivered, as well as sharing resident stories from each of our 5 retirement villages.
In addition, a refreshed strategy is outlined along with proposed changes to our Constitution, just approved at the July 21st AGM, enabling future benevolent support to be provided to veterans and their families through housing related support services and not just by living in a Vasey Communities village.
Our Chair, Arthur Koumoukelis, said in his report, “This represents a very exciting opportunity for Vasey Communities in the future, enabling us to meet a wider range of financial and wellbeing needs that are fundamental to a person’s purpose, health and happiness.”
An enormous amount has been done throughout the year to strengthen the organisations governance and operating model and in particular to provide direct support for residents in each village. Occupancy remains very high at 94% across the portfolio and the organisation remains financially sustainable with exciting plans at an early stage for redeveloping the Lane Cove site. This project is based on recent success experienced through the Kokoda Residences redevelopment project at Waitara, the goal being to generate additional surplus funds for reinvestment in benevolent veteran support and affordable housing in general.
The Vasey Housing Association NSW 2025-2026 Annual Report can be found at: https://vasey.com.au/about
*Vasey internal calculation of benevolence. Calculation based on the benevolence provided by our 94 affordable contracts, the discount to market of our 29 affordable rentals, and the value of the deficits funded by Vasey at each of our villages, except Waitara which is deemed a market product.