The Retirement Villages Group (RVG), the UK's leading provider of luxury retirement communities, has acquired a new site as part of its £200 million expansion programme to develop more than 500 new independent living residential units in the South East of England over the next 5 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 site was formerly home to the Hazleden's Nursery.
 
It is anticipated a planning application will be submitted by RVG during the summer this year, following a public exhibition to present the proposals to develop a luxury retirement community incorporating around 98 residential units, which will be predominantly 2 bed apartments and cottages.  In keeping with the company's model for creating high end senior living villages, the development will also include a restaurant and bar, library and retail amenities, with residents supported by on-site care services when needed.
 
RVG 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 development pipeline is made up of 500 new residential units and 160 care beds across prime South East locations including Gradwell, East Sussex; Merstham, Surrey; Saffron Walden, Essex; West Malling, Kent; and Shiplake in Oxfordshire.  Planning consent has already been secured on two of the sites, while the others are being advanced through the planning process.
 
RVG is also embarking on a £20m 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.  This includes Moat Park in Great Easton, Essex, where planning consent has just been secured for nine cottages, with construction expecting to start on site in March this year.
 
William Crawford, Group Development Director, Retirement Villages Group, said:  “The acquisition of the Albourne site is an important milestone in the delivery of our development pipeline.  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.
 
“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.”
 
-ENDS-
 
For further information:
Richard Stocks / Giles Barrie
FTI Consulting:  +44 (0) 20 3727 1000
richard.stocks@fticonsulting.com
giles.barrie@fticonsulting.com

Notes to Editors:
The Retirement Villages Group has been developing and managing purpose built, retirement communities throughout the UK since 1981.   Inspired by the American lifestyle developments, the idea was adapted to meet the very different needs of the UK market.  Since then, the concept has continued to evolve with living options and care offerings being extended through development, acquisition and expansion.  There are now 14 Retirement Villages sites in choice locations across the country, primarily in the South East of England.
 
Retirement Villages' developments have consistently won recognition within the industry, receiving national accolades at all the major property events as well as prizes for their outstanding landscaping and gardens. The company's expertise in care continues to be acknowledged with a number of staff nominated for national awards.  The luxury retirement communities are situated in prime locations.  Villages are typically centred on a clubhouse, with luxurious communal facilities and services.
 
Portfolio overview:

• Roseland Parc; Tregony, Cornwall
• The Priory; Abbotskerswell, Devon
• Gittisham Hill Park; Honiton, Devon
• Blagdon Village; Middleway, Taunton, Sussex
• Avonpark Village; Limpley Stoke, Bath, Wilshire
• Lime Tree Village; Dunchurch, Warwickshire
• Thamesfield; Henley-on-Thames, Oxfordshire
• Cedars Village; Chorleywood, Hertfordshire
• Castle Village; Berkhamsted, Hertfordshire
• Mayford Grange; Woking, Surrey
• Elmbridge Village; Cranleigh, Surrey
• Charters Village; East Grinstead, West Sussex
• Moat Park; Great Easton, Essex
• Park Place; Boston, Lincolnshire

Market overview:

• In the UK, 0.6% of over 65s live in housing with care, compared to 5.0% in both the USA and Australia
• With the ever-growing aged demographic, 1 in 5 of the population is forecast to be over 65 in 10 years' time.  The number of over 85s in the UK is predicted to more than double in the next 23 years
• There is a major undersupply of senior accommodation, with 285 units built per annum in the high end market, 600 units built per annum in the mid-market, and 2,250 units built per annum in the affordable market