L&G targets last-time buyers with 3,000 homes plan

Aaron Morby 2 months ago
Share

Legal & General is making a move on the retirement homes sector setting up a specialist developer and operator called Guild Living to build urban later living communities.

Guild Living's planned retirement community in Epsom

Through Guild Living, it plans to build more than 3,000 new homes over the next five years, with a development value of £2bn.

Projections indicate that the number of over 85 year olds living in the UK is set to double by 2041 and treble by 2066 – by when there will be a further 8.6m residents over the age of 65.

Guild Living – which is a partnership between Legal & General and a team of global experts in design, development and wellness – will deliver a new class of urban retirement community across the UK’s towns and cities.

Retirement communities with extra care, such as those being designed by Guild Living, have the potential to significantly reduce social isolation.

First schemes


The new developer launches with two sites: 4.5 acres of prime river frontage in Bath city centre, Somerset; and a 2.7 acre site in Epsom, Surrey.

A Guild Living community will be master planned and innovatively designed. Made up of around 200 apartments, it will include a restaurant, a physiotherapy gym and pool, consultant rooms for GP surgeries, a children’s nursery and retail space for local businesses – all of which will be open to the local community.

Residents will live independently, with flexible and supportive care available if and when needed.

In Epsom specifically, the new scheme will include keyworker units and transitional care suites, available to the NHS as and when required.

Phil Bayliss,  Chairman at Guild Living said: “With over three million over 60s in UK seeking to downsize their homes, we see a £100 billion investment opportunity.

“Around 84% of the UK population lives in urban areas and we expect retirees to continue to migrate to UK towns and cities to enjoy all the local amenities they have to offer as well as to be closer to their loved ones and transport links.”

 

Latest news

Highways England to start 26 schemes this year

Roads agency confirms ambitious starts programme this year
37 mins ago

Training hub shut as industry crying-out for new workers

Local contractors baffled as successful on-site training centre lies dormant
1 hour ago

New homes must contain “hedgehog highways” and swift bricks

Developers ordered to protect wildlife during and after construction
11 hours ago

Go-ahead for eight storey student scheme in Derby

Godwin Developments gains planning for latest project
34 mins ago

Stricken fit-out firm bought out of administration by rival

Dimension Shopfitting hit by woes of retail and dining sectors
3 days ago

Killed track workers “unaware” of train until it hit them at 50mph

At least one victim was wearing ear defenders
3 days ago

Council parts company with Kier after road cost row

New contractor hunt starts after dispute over £26m project estimate
3 days ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
1 year ago

Piling specialist Van Elle issues another profit warning

Ground engineering giant also dampens hopes of recovery this year
3 days ago

Construction’s best performing “ultra sites” revealed

Considerate Constructors Scheme reveals supply chain excellence winners: Full list
3 days ago

Latest winners unveiled for £2bn Severn Trent water work

Barhale/Doosan JV lands another place on AMP7 lots
4 days ago

Further redundancies at failed Welsh contractor

Trade debt owed by Jistcourt due to be revealed next month
4 days ago

Bid race starts for £17m Canterbury link road

Sturry Link Road from A28 to A291 will include a 250m long viaduct
4 days ago

More contractors suspended from Prompt Payment Code

Galliford Try, Ferrovial and Alun Griffiths among firms not paying on time
5 days ago

Track maintenance crash reveals design flaws in rail kit

Driver of road-rail ballast distributor could barely see track
4 days ago

Lendlease names new London construction chief

Promotion for finance head Claire Pettett
5 days ago

“Brexit fatigue” sees surveyors report construction output grow

RICS says fed-up industry just trying to get on with daily life despite the dithering of politicians
4 days ago

Plans go in for 40-storey tower in Docklands

300 construction jobs will be created building 400 bedroom hotel and 279 serviced apartments
4 days ago

Post-Grenfell building and fire safety changes ‘too slow’

MPs slam Government for unacceptable delay in reforming building regulations
4 days ago

Plan to expand Sheffield Olympic Legacy Park

Developer Scarborough Properties to drive development of 750,000 sq ft of business space for sport and health
4 days ago

Construction restructure costs Galliford Try £10m

Average group net debt rises to £187m after year of writedowns
5 days ago

Six climate activists arrested at concrete plant

Police chief warns construction companies they will be targeted during week of action
5 days ago

Civils and concrete specialist OHOB delivers £27m profit

O’Halloran & O’Brien builds revenue to £300m after expanding from south east base into the Midlands
5 days ago

Worker killed on Asda extension site

Victim "hit by digger bucket" in site tragedy
5 days ago

Leeds Merrion Centre 17 storey office block approved

New office block in shopping centre will cost over £50m to build
5 days ago

£17m Blackpool hotel project out to bid

Muse invited bids for Talbot Gateway scheme Holiday Inn
5 days ago

Countryside wins £400m London Camden Lock estate rebuilds

Work could start on 700-home estate rebuild late next year
6 days ago

Contractor fined for ignoring site welfare order

Manchester firm failed to provide decent facilities for workers
5 days ago

Murphy suffers £5.8m loss

Revenue up 4.4% to £781m driven by transport and power projects
6 days ago

London Mayor uproots Tulip Tower plan

Sadiq Khan blocks 305m skyscraper plan despite city planners' approval
6 days ago

Contractor services