British luxury retirement community developer, The Retirement Villages Group (RVG), has acquired a new site as part of its £200 mln expansion programme to build more than 500 new independent living residential units in the South East of England over the next five years.
The company has secured a 10.5 acre site, subject to planning permission, at Albourne, near Henfield, West Sussex, for a new retirement village community.
'The acquisition of the Albourne site is an important milestone in the delivery of our development pipeline,' commented William Crawford, group development director, Retirement Villages Group. 'A key characteristic of all our sites is strategic location and connectivity to local communities, and Albourne is no exception. We are looking forward to progressing the planning application following our public consultation.'
RVG said it expected to submit a planning application this summer, following a public exhibition of its proposals which include a luxury retirement community incorporated around 98 residential units. The development will also include a restaurant and bar, library and retail amenities, with residents supported by on-site care services.
RVG currently operates 14 high-end retirement villages focused in the South of England. The new Albourne site is one of seven new locations that will be delivered over the next five years, representing the company’s largest development programme in its 35-year history.
The firm is also embarking on a £20 mln expansion and improvement programme at eight of its existing 14 villages, adding a further 228 units to its existing 1,274 units and over 400 care beds.
'We have a growing portfolio of market leading luxury retirement communities and are well placed to capitalise on the senior living sector, which we believe offers the greatest growth potential in UK real estate, and is set to follow in the footsteps of the US and become a major market,' concluded Crawford.
