Property Week 16 September 2020
Retirement living developer Birchgrove has acquired a brownfield site in Godalming, Surrey for a 60-unit scheme.
The firm has submitted a pre-application to Waverley council to build on the 1.02-acre site, a former Mole Valley store.
The acquisition marks the fourth addition to the Birchgrove portfolio, which comprises a site in Sidcup, Kent, and two schemes in Ewell and Woking.
The Woking site is due to complete in October, and Birchgrove said it has already received enquiries for units.
“This is an exciting opportunity for Birchgrove and the local community of Godalming, to regenerate a long-standing vacant site which has become commercially unviable in its existing use as a retail warehouse,” said Honor Barratt, managing director at Birchgrove.
She added: “We are working through the design proposals in consultation with Waverley local planning authority with a view to submit a planning application as soon as possible. With an increase in demand for high quality retirement living accommodation, this scheme will be the first of its kind in the local area, both in terms of the quality of the apartments that will be offered together with integrated care and the extensive communal and support services.”
Jack Copley, associate in the senior living team at Knight Frank, said: “Knight Frank’s latest senior living forecast suggests that the delivery of UK rental seniors housing is set to increase by 160% in next five years with Covid-19 pandemic accelerating the demand for rental housing.
“However, the rate of delivery is being outstripped by the growth of our aging population. An increase in senior living accommodation is needed now more than ever, and we’re delighted to have acquired another site for Birchgrove in order to support the delivery of more housing in the sector.”
Knight Frank are advising Birchgrove.