Retirement Living – Why Buy a New Build Home

Originally published on Whathouse.com

Many older people are still active and independent, while others need greater care and the provision of services, but they all have one thing in common – they prefer to purchase a home, rather than move into rented accommodation. 

There are many housebuilders solely dedicated to providing retirement developments around the country, including Churchill Retirement LivingMcCarthy & Stone and Sanctuary Retirement Living, as well as new build providers such as Pentland Homes who also offer retirement properties.

We’ve spoken to several housebuilders and those working in the retirement industry, as well as putting together a selection of some of the best retirement developments around the country…

Kevin Beirne, director of retirement at Octopus Healthcare, comments: “There continues to be a significant shortfall of high-quality retirement accommodation across the UK, where a demographic shift due to Britain’s aging population is fuelling demand. It is not just about living accommodation, however. Through our investments we are backing the development by our partners of new communities with modern, integrated facilities that meet the active and social lifestyles of the retirement community, whilst providing an attractive alternative for those looking to downsize. We hope to see retirement living become an aspirational and logical step as people get older, like it is in New Zealand, Australia and the US, which would also inject some much needed liquidity into the housing market.

“For example, we recently launched, in partnership with developer and operator Rangeford, a new retirement village at Siddington Park, which is situated on a 12-acre site outside Cirencester. Once completed in 2021, this new village will provide 116 units as well as integrated care services, a restaurant, wellness spa, pool, gym and concierge in an idyllic Cotswolds setting.

“One of the driving factors behind institutional investor interest in the retirement housing sector is the positive social impact that healthcare infrastructure can make, as well as its defensive nature against a backdrop of political volatility and uncertainty. Indeed, our recent research report shows that 57% of global institutional investors surveyed are considering investing in retirement housing, with the UK attracting the most demand.”

Auriens is a luxury lifestyle and healthcare-orientated later life residence, located on Dovehouse Street, a stone’s throw from the King’s Road in the heart of Chelsea. Offering the ultimate in flexibility, one- and two-bedroom apartments at Auriens are now available to rent, benefitting those looking for more freedom from their living arrangements. A unique new product to the luxury retirement sector, the Lease for Life at Auriens provides complete security, with the right to stay living at Auriens for as long as desired. Combining the style and sophistication of an exclusive boutique hotel, the ambience of a private members’ club and superlative care, Auriens challenges the conventions of the later life living category, offering a unique brand of vintage vitality for those looking to ‘downsize to upgrade’.

With 55 apartments, Auriens offers a wide range of amenities, including around-the-clock care as and when required. Care is provided by Draycott Nursing, which has a 20-year heritage caring for the capital’s most high-profile clientele, with services designed to enable residents to remain independent for longer. There will be an on-site restaurant, bar and wine cellar led by consultant Seb Fogg, who has helped a number of well-known restaurants worldwide achieve their vision. Additional features include a 24-hour concierge, room service, swimming pool, spa, gym, valet service, pet parlour, cinema and gardens designed by RHS Chelsea Flower Show multiple award-winning Andy Sturgeon.

Johnny Sandelson, CEO of Auriens says: “Downsizing is a much more exciting prospect when you can enjoy the service of a luxury hotel, the style of a private members’ club and the reassurance of the very best healthcare from Draycott Nursing & Care, and that’s what we’re creating at Auriens. Now it’s even easier to downsize with our new rental model, available to all residents. The demands of today’s later lifers are changing – they’re increasingly looking for freedom and flexibility without compromising on quality and we see this as something to celebrate and encourage. Our new Lease for Life model responds directly to these demands, providing further security and reassurance to our residents and their families.”

For retirees looking to maintain an active lifestyle, McCarthy & Stone is currently piloting a new scheme in conjunction with wellness company Oomph! at seven of its West Midlands developments. From next month, team members will be trained to deliver weekly fitness classes in the shared lounges of its developments, which includes a core programme of balance and aerobic exercises, as well as low-impact relaxation techniques specifically tailored to meet the needs of over-60s. In addition, it is also introducing some fun new concepts and team sports including Arm Chair Volleyball and Slipper Soccer.

Will Purvis, customer experience manager for McCarthy & Stone, says: “Staying fit and active is important no matter what our age, but when we get older, being active can help reduce illnesses too. At McCarthy & Stone we are always looking at value-added ways and services we can introduce, which enrich the lives of our homeowners, and helps them to lead happier and healthier lives.”

The scheme is initially being piloted on seven developments, two of which currently have properties available.

Linden Place (McCarthy & Stone)

located in Solihull, Linden Place offers 32 one- and two bedroom apartments, built for those aged 60 and over. Each apartment offers residents a patio or balcony, and there is a camera entry system and 24-hour call system in place, along with an on-site house manager. Pets are allowed and there is a guest suite available. Prices range from £279,950 for a one-bedroom and £379,950 for a two-bedroom home. Find out more about developments from McCarthy & Stone

Brueton Place (McCarthy & Stone)

Available now, a slightly larger development over three floors, still centrally located in the heart of leafy Solihull, which is offering a last chance to buy. There are just a handful of one-bedroom apartments remaining from £270,000. There is a lift to all floors, and the development offers a stylish communal lounge for socialising and beautiful maintained gardens. Find out more about McCarthy & Stone and its available developments

We’ve also put together a selection of some of the most impressive retirement developments around the country..

Terlingham Gardens (Pentland Homes)

Terlingham Gardens Retirement Village is located in Hawkinge, just outside Folkestone in Kent. It is an exclusive gated development of two- and three-bedroom bungalows catering for the over-55s. The development is situated just minutes from Folkestone and the South Coast, offering residents access to local beaches, plenty of restaurants, cafes and shops. The marketing suite is open Thursday to Monday, 10am – 5pm. Prices start from £339,995. Find out more about Terlingham Gardens from Pentland Homes

Maryland Place (Beechcroft Developments)

Designed exclusively for the over-55s, Maryland Place has been built on the site of the former Maryland Convent on Townsend Drive in St Albans. The development offers two- and three-bedroom properties, landscaped gardens, lift access and pets are allowed. Beechcroft is one of the UK’s leading developers of homes for people of retirement age and it has been developing homes in the South of England for the last three decades. It is committed to building retirement properties ideal for those looking to live in energy-efficient homes that are easy to maintain. Prices at Maryland Place start from £750,000. Find out more about Maryland Place from Beechcroft Developments

Trinity Lodge (Churchill Retirement Living)

Trinity Lodge is a development of 42 one- and two-bedroom flats located in Fornby. Each apartment is self-contained with its own front door, offering residents privacy and peace when they want it. Trinity Lodge is ideally located for residents wanting to maintain an active lifestyle, with a nearby Special Site of Scientific Interest managed by the National Trust. Churchill Retirement Living was founded in 1994, and is a privately owned, family-run housebuilder. The company has won numerous awards, including several prestigious WhatHouse? Awards, including the Housebuilder of the Year title in 2016Read more about Churchill Retirement Living

St Giles House (Sanctuary Retirement Living)

St Giles House is located in the borough of Lambeth in London. It is a collection of beautifully refurbished one- and two-bedroom retirement living apartments which are available to purchase using the Shared Ownership scheme. Each apartment is finished to a high standard and come with fully integrated appliances. Sanctuary Retirement Living is a brand used by Sanctuary Homes, which is a part of one of Britain’s largest housing associations, Sanctuary Group. Prices start from £90,000 for a share of a one-bedroom apartment. Find out more about St Giles House from Sanctuary Retirement Living

Chapters (Platinum Skies)

Platinum Skies has launched the first homes at Chapters, its latest retirement development, situated in the Wiltshire city of Salisbury. Located in the grounds of the Grade II-listed, 19th Century Finch House and close to Salisbury station, this 197-unit development offers one-, two- and three-bedroom apartments, cottages and larger houses and has an on-site bistro, activity suite, treatment rooms and private lounge areas. Prices here start from £112,500 for a 50% share of a one-bedroom home (based on a full market value of £225,000).

Read the article on Whathouse.com