Caring Times 01 May 2019
Birchgrove, a specialist developer of luxury rental retirement properties, has begun work at its second development in Woking. The scheme includes the construction of 51 apartments for the over 65s on a one-acre site purchased last year.
Birchgrove managing director Honor Barratt said there was a growing demand for rental homes in the British retirement housing market, with a 13% increase in retired renters from 2012 to 2016. Scottish Widows have also recently predicted that figures will double to 9 million by 2022.
‘For many, the idea of selling up and buying a retirement property is not only stressful but also a financially, unattractive option,” said Ms Barratt.
“High stamp duty rates and the knowledge that some retirement properties don’t tend to gain value are tough facts to accept. Renting, on the other hand allows homeowners more choice on where they live and how they use their assets. Hook Heath has so much to offer and is the ideal location for retirees who want to enjoy community living with easy access to the hustle and bustle of the big city.”
The new Woking retirement village will offer a range of one- or two-bedroom apartments, due to be completed in August 2020. The new homes will mirror the quality and specifications of Birchgrove’s flagship development in Sidcup, which will welcome its first residents in May.
A number of onsite amenities will be offered, including dining room with outside dining, a communal terrace, a gym, bar and club room as well as a hair salon. Planning permission is being considered to include a balcony or terrace for every apartment so they can better answer the needs of local retirees, who are used to living in detached homes with a large plot of garden.