Retirement Villages
Retirement Villages Group Ltd is a British residential property developer. Residents must be aged 55 or over to live in its developments, which are known as "villages". It was acquired by Axa for about £100 million in October 2017.[1]
History
[edit]The company was founded in 1981 and the first development to be built was Elmbridge Village in Surrey. Princess Alexandra officially opened Roseland Parc, a new retirement village in Cornwall, in 2008.[2]
Developments
[edit]The company's head office is in Victoria, London and its developments are located in Cornwall, Devon, Essex, Hertfordshire, Lincolnshire, Oxfordshire, Somerset, Surrey, Wiltshire, West Sussex, Kent and Warwickshire.[3]
It owns 18 villages across Britain with 1,609 residents. Eight contain on-site care homes with a total of about 300 residents. In 2014/5 the firm had sales of £35 million and paid its six directors a total of £498,000.
In November 2016 it announced its intention to open seven more villages with a gross value of £200 million by 2021. The proposed locations would include Lower Shiplake in Oxfordshire, Saffron Walden in Essex, South Chailey in East Sussex, Merstham in Surrey and West Malling in Kent.[4]
Operations
[edit]- Independent living
- This is a scheme where residents live in private housing without direct care provision. However, services can be purchased and 24-hour emergency cover is in place.
- Assisted living
- Residents live in separate properties within the grounds of an existing care home and services including care can be provided as required.
- Residential care
- Some developments provide residential care for people who cannot continue living in their own home, even with home care services.
- Respite care
- Some developments provide respite care, which gives temporary relief for primary carers.
References
[edit]- ↑ "Axa IM acquires Retirement Villages Group". Property Week. 3 October 2017. Retrieved 23 December 2017.
- ↑ "Princess opens retirement village". 7 July 2008.
- ↑ "Our Villages".
- ↑ "Retirement Villages Group reveals plans for first development in £200m expansion". Property Week. 19 October 2016. Retrieved 23 December 2016.
