The Walton-on-Thames site, which was bought from British Land, paves the way for its third scheme since being set up just two months ago. It other schemes will be built in Bath and Epsom.

Guild Living was launched with ambitious plans to deliver over 3,000 homes in the next five years.

Subject to planning, the Walton 2.4 acre town centre site will deliver a new retirement community.

The development will include a restaurant and wellness centre, alongside commercial and retail space and a children’s nursery – all open to the local community.

Eugene Marchese, Director of Design and Innovation at Guild Living, said: “We are striving to revolutionise the way we age in the UK, developing truly connected and enriched communities for our members.

“This not only means creating beautiful environments offering physical, social and cognitive activation. It means breaking away from the traditional model provided by UK retirement developers and operators to offer extraordinary outcomes.

“One key focus will be on undertaking a full programme of academic research to understand the real needs of our older population, adapting the way we build and run our communities to ensure our members can continue to live their best lives.”