We are active in land acquisition for retirement village operator clients.
Most potential sites may have Planning issues but ‘this comes with the territory’ . Predominantly in England, and from 2 acres upwards but don’t rule out north of the Border – Scotland is also on the radar for flatted retirement developments and also for a restricted number of villages.
We have a philosophy that there should be a retirement development in every town. If there is affordable housing in an area then we need housing for older residents who want a single storey home whether a flat or a bungalow with or without communal care facilities.
There are several sectors – (Private sector flats for older residents to rent is a growing sector )
- Opportunities will be in mid market locations upwards . Sites may even have a period building with grounds. Also they tend to be in locations where house prices hit £400 per sq foot or 4,000 / sq metre selling prices.
2. We are also looking for locations where either residential planning consents exist or there is potential for lower to middle market sites for solely bungalows or bungalows & apartments.
3. Scotland – For the true retirement village – restricted to Aberdeenshire, Edinburgh and parts of Glasgow and Fife and around coastal towns .
4. We are also seeking sites in urban areas suitable for flats / homes for build to rent for the elderly across all sectors. These can be mixed tenure.
The demographics below are a stark reminder of the need to provide housing for the elderly . The DCLG own figures show that 74% of all household growth will come from older people in the period to 2039 .