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Retirement Villages Group, owned by French insurance company Axa, have an aim of creating 5,000 retirement homes across 40 urban sites in the UK.
RVG announced their drive after securing planning for their first two schemes, totalling £175m which will deliver whole life net zero carbon and follow the “extra care” model.
Surrey – £110m – 196 Homes
Chester – £65m – 147 homes
With Legal & General also set out to build 3,000 retirement homes in the coming years and creating an extra care arm alongside providers such as Riverstone and Octopus receiving backing, the model has been an increasing focus of institutional investment within the previous years.
Estate agent, Knight Frank last year said the extra care sector is set to grow by almost 50% in the next four years with the construction of nearly 45,000 homes – you can view the recent senior living performance review here.
What is the “extra-care” model?
Extra care housing (also known as assisted living) is based on the elderly retaining their independence whilst having access to additional care services when that becomes necessary.
Picture sourced from Knight Frank
“We want to put older people back at the heart of our communities and build homes that enable them to live rich, connected lives safe in the knowledge that support is available when, but not before, they need it.
“Our 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.” – Will Bax, CEO, RVG
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