Gonski Named Chair After Retirement Living Shakeup

Swedish firm EQT has rebranded the 58 retirement villages and communities it took over from Stockland as Levande. 

The acquisition of the assets across the Australian Capital Territory, New South Wales, Victoria, South Australia and Queensland cost about $987 million.

Levande also has assets in Western Australia. 

Stockland revealed in 2021, after the appointment of new chief executive Tarun Gupta, that it was shifting its focus to building its residential assets and selling about $2 billion of retail and retirement assets.

It most recently bought a 77ha site in South Ripley, Queensland for an undisclosed sum with plans to develop and build a community and 1100 homes.

Levande’s now 58-strong retirement asset portfolio employs more than 300 people supporting more than 10,000 residents.

▲ Suzanne Dvorak has been appointed chief executive for EQT's Levande alongside David Gonski as chair.

Dvorak formerly worked as the managing director of Bupa Villages and Aged Care Australia and was responsible for more than 6000 residents across 72 care homes. 

“I am greatly looking forward to taking the helm of Levande, which will revitalise living options for senior Australians through the creation of vibrant, modern neighbourhoods where residents can enjoy their lifestyle,” Dvorak said.

“Levande is a Swedish word that means ‘vivid’ and ‘full of life’, and it captures what we want to offer.”

Dvorak said that Levande would focus on allowing people to age in-place and that people’s ideas around retirement and what it looked like were changing.

▲ The interior of one of Levande's 58 retirement villages where the approach is to allow residents to age in place.

Gonski is also the non-executive chair of Barrenjoey Capital Partners Group, the Chancellor of the University of New South Wales, president of the Art Gallery of NSW and a Lowy Institute for International Policy director. 

He has been the chair for ANZ Banking Group, Coca-Cola Amatil, Sydney Airport Corporation and ASX Ltd, and authored a 2011 report for the federal government on Australian education.

EQT Asia Pacific infrastructure head Ken Wong said EQT’s intentions were to continue investing in social infrastructure investments. 

“Our investment in Levande is consistent with our purpose-led investment philosophy, and our experience investing in similar businesses makes EQT the ideal partner for the next phase of Levande’s journey,” he said.