Galliard Homes, London’s largest private housebuilder, has announced plans to enter the senior housing market with the development of retirement villages in outer London and Southern England.
Its first project will be a £40 mln (€46 mln) retirement village in Lower Shiplake, in partnership with Probitas Developments, a specialist in retirement living, and O’Shea, a developer and contractor.
The six-acre scheme will provide 65 new homes, near the town of Henley-on-Thames, including a mix of one- and two-bedroom apartments, cottages and penthouse style homes set in landscaped communal gardens and grounds.
The new retirement village will also include a village club house containing a bistro, bar, gym/fitness suite and care services for residents.
Stephen Conway, executive chairman of Galliard Homes, said: 'Galliard is delighted to have partnered with Probitas Developments, a retirement specialist, and O’Shea, a leading developer and contractor, in order to expand into the later living marketplace.
'Our partnership aims to help solve the significant undersupply of purpose-built premium retirement accommodation in the UK, with just 1% of the UK’s population living in designated retirement villages, compared to 17% of Americans and 13% of Australians. By 2050 the UK retirement population is set to double and there needs to be new custom-designed housing with services to meet this demand.'
O’Shea is both a joint venture partner and a delivery partner on the Lower Shiplake project and will be the main contractor for the new retirement village, with construction works set to commence later this year and the first properties being available to purchase in 2022.
Alongside the Lower Shiplake development Galliard Homes, Probitas Developments and O’Shea plan to develop further retirement villages, each providing up to 150 new homes, lifestyle facilities and care services, located in towns potentially including Tunbridge Wells, Bournemouth, York, Worthing and Brighton. As a broad guide, the new homes will typically be priced from around £400,000 up to circa £900,000.
Scott Curran, director at Probitas Developments added: 'Probitas Developments is delighted to be working with Galliard Homes who bring a wealth of residential experience to this rapidly expanding property sector.
'Together with our delivery partner, O’Shea, we aim to bring a fresh approach to one of the fastest growing property sectors in the UK. Retirement living is about providing the best property environment and services to people in later life, and core to our joint business values, is that we believe that if this is potentially someone’s last property purchase, then it should be their best.'
