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9th November 2020

Increased Demand for Retirement Living

A recent survey of UK retirement community operators has found a significant increase in the number of older people enquiring about moving.

The Associated Retirement Community Operators (ARCO) surveyed its members, and 85 per cent indicated that sales and lettings in the last month were higher than in the same period in 2019. Of the respondents, 55 per cent suggested sales and lettings are at least 30 per cent higher than in 2019, with 25 per cent reporting that sales and lettings are as much as 50 per cent higher.

Otium by Noble Homes is a purpose-built development designed to create a community where over 55s can live life to the full. It is ideally placed in Stocksbridge, on the edge of the Peak District and conveniently close to Fox Valley.

Noble Homes Senior Executive, Glen Wilson, explained: “Otium was created for over 55s who require a new home as a result of downsizing, the release of capital for family or retirement, health or loss of a partner.

“We wanted to make the living more inclusive. Our utilities are included within the service charges (which are below the norm), and we don’t charge the owners fees to sell on the apartments (which is far too standard a practice). The apartments are nearly all ‘plug & play’ as all fittings are inclusive with practically only a bed, sofa and TV required. We even supply the pans for the induction hob as that may be a new experience for the buyer.

“Communal areas create a community feel and social environment. We also understand that fitness is a crucial part of remaining active, so there are plenty of rooms for many types of activities.”

According to the ARCO survey, 65 per cent of operators believe that the most common drivers of the increase in demand for retirement communities are a desire for more company and social interaction and a realisation that the homes they were living in were no longer suitable for them. Also, 60 per cent suggested that moving was driven by people wanting access to a support network in case of another period of lockdown.

Glen added: “At Otium, there will be a live-in manager and modern communication tools from within the apartments, which would offer the comfort that someone is always close by in times of need. Your shopping can be brought to your door, for example, but you can remain independent if you desire.

“In terms of the potential for future lockdowns, that will depend on the rules in Stocksbridge at the time, but the benefit is, there will be a management service to assist in all aspects. The key is that residents will have support.”

Are you interested in finding out more about Otium for yourself or a loved one? Contact the Redbrik New Homes team on 0114 299 4144.

Source: https://www.planningportal.co.uk/news/article/738/planning_news_-_29_october_2020?utm_source=PPQ+Newsletter&utm_campaign=68a5a70f61-Newsletter_11072019_HTML_COPY_01&utm_medium=email&utm_term=0_734e0b63a9-68a5a70f61-7298505#one