Our aim is to help alleviate the UK's chronic shortage of retirement accommodation and to help local residents by creating partnerships with local communities, councils and landowners to build retirement villages and communities that improve upon the current prevailing standards.
It is estimated that over the next decade there will be a potential shortage of 388,189 retirement accommodation units across the UK. This is largely due to the fact that our ageing population is growing so quickly. There are currently 11.8 million people in the UK over the age of 65 and this is set to increase by 20% over the next decade to 14.7million. The number of people aged 90 or over is set to almost double in the next 10 years.
The benefits of specialist retirement housing for residents are widely recognised, with high quality housing and communities helping to promote independence and longer, healthier lives. However, there are also additional benefits to the wider local community such as an increased availability in local housing stock and significant savings to local NHS and social care funds.
It was estimated in a report by the Royal Institution of Chartered Surveyors that 2.6million family homes could be released on to the property market if older owners downsized. However, at present due to the chronic shortage of retirement accommodation available this is not possible. More suitable and affordable retirement homes would make more local housing stock available as starter homes for local younger residents and nearby families which would in turn help to solve the national housing crisis.
Specialist and well-planned retirement communities also lead to significant savings to local care and NHS funds. A study by the Strategic Society Centre suggests that an increase in specialist retirement housing will lead to significant savings for the NHS and the state. The study estimates that “if one couple for every 50 older homeowners moved into a new unit of specialist retirement housing for at least 10 years, this would yield savings in the long-term of £14.5 billion across the country” (Source: Valuing Retirement Housing, The Strategic Society Centre). Also research from Aston University has shown that the NHS saved more than £1,000 per year on each resident living in Extra Care Charitable Trust’s schemes between 2012 and 2015.
Our legacy approach demonstrates a commitment from all parties to create retirement communities that capture the spirit of the existing area whilst providing facilities that are accessible and that are beneficial for the wider local community.
The production of affordable, modern, accessible and well-designed retirement communities can be a complex and difficult task. Often prime development land is benchmarked for standard residential projects as they produce higher profits. This has led to developers and local councils having to be creative and more open to alternative approaches to planning and development.