Retirement Villages Group plans £2 billion development programme in new urban retirement communities
Retirement Villages Group (“RVG”) today announces a £2 billion investment boost to drive forward its latest sites for urban retirement communities at West Byfleet and Chester and over 40 more others across the UK.
The sites are being developed in response to rising demand from those aged over 65 for a better quality of later-life accommodation, set close to town and city centres. RVG is moving towards creating schemes that are open and integrated with local communities, allowing its customers to stay connected to the places where they live, while breathing new life into UK town centres for the benefit of everyone living locally.
The announcement follows two new landmark planning approvals to develop a £110 million retirement community in central West Byfleet, Surrey, as well as a new £65 million community in Chester.
The first site, at an empty office building at West Byfleet, Surrey, last week secured final reserved matters consent, with work set to commence this summer. The development will replace a 1960s office block and shopping precinct with 195 apartments for retirement living. It will combine a range of shared community facilities for multi-generational use, as well as exciting new retail units, a wellness centre and community space all centred around a village square.
The second site, an urban development of 147 retirement homes in Chester which represents RVG’s first move into the North West, received detailed approval from the local authority in March, with parish councils and local groups also providing strong endorsement. Located 10 minutes from the city centre, the site sits adjacent to an existing Park & Ride service, providing a direct link to the centre. Building work is also due to start this summer and when completed the new development will have homes for purchase and rental.
Will Bax, CEO of RVG, said:
“New generations of older people will prize independence, security and community connections more than any other. Increasingly they are looking for a lifestyle choice that promotes independent living and keeps them fit and active for longer. The current options for people looking to downsize are not good enough. We want to change that by putting older people back at the heart of our communities and building homes that enable them to live rich, connected lives safe in the knowledge that support is available when, but not before, they need it.”
The sites will be designed, built and operated in a manner that supports RVG’s industry leading sustainability targets as the first retirement living developer to declare whole life net zero carbon [for future development] schemes. Both construction and operation will bring jobs to local communities through direct employment and by prioritising local businesses and suppliers within RVG’s procurement strategy.
Will Bax added:
“We are delighted to have the support and participation of local councils and communities with both of these sites. West Byfleet and Chester will be a new breed of urban, inclusive and design-led retirement schemes for the benefit of the over 65s and the wider community. We have a huge opportunity to transform the later living landscape in the UK and hope to secure many more sites like these over the next decade.”
RVG’s target locations focus on well-connected sites in or on the edge of existing town and city centres, enabling people to remain close to families, friends and their existing communities, whilst also adding new amenities and services that create value for everyone.
Kindly shared by Retirement Villages Group
Main photo courtesy of Pixabay
