UK: Retirement Villages Group (RVG) has secured a £2 billion investment to drive the development of more than 40 new sites across the UK.
The announcement follows two new planning approvals to develop a £110 million retirement community in central West Byfleet, Surrey, as well as a £65 million project in Chester.
The first site, a disused office building in West Byfleet, secured final reserved matters consent last week for 195 apartments, with work set to start this summer. It will include a range of shared community facilities for multi-generational use, as well as new retail units, a wellness centre and community space, all centred around a village square.
The Chester site will include 147 retirement homes and is RVG’s first move into the north-west.
RVG chief executive Will Bax 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.”
“We are delighted to have the support and participation of local councils and communities with both 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,” he added.
