Retirement property specialists McCarthy & Stone and Anchor Hanover have announced a partnership which will see the country’s two leading retirement providers deliver a range of ‘affordable for all’ later-living communities across England
The partnership will address the diverse needs of England’s growing ageing population at a time when it is most needed.
The partnership, which has been welcomed by Housing Minister Christopher Pincher, will initially deliver 482 units across five large-scale sites (which are currently owned by McCarthy & Stone and have planning consent).
As part of the agreement, Anchor Hanover will pay a total of £67m for the development of 316 Extra Care apartments, aimed at those in greatest need of supported housing and care. McCarthy & Stone will act as turn-key developer to Anchor Hanover to deliver these apartments – of which 124 will be affordable rent and 192 will be shared ownership.
A further 166 Retirement Living units will be sold and managed by McCarthy & Stone on land adjacent to Anchor Hanover’s sites.
The first two of these developments are set to get underway in Hook, Hampshire and Hinckley, Leicestershire later this year with the next two developments located in Bingley, West Yorkshire, and Standish, Greater Manchester due to commence in early 2021.
The final development will follow in Macclesfield, Cheshire later in 2021.
John Tonkiss, Chief Executive of McCarthy & Stone said: “This partnership is in addition to our current construction plans and forms part of our strategy to provide greater choice for customers, with different tenure options across the affordability spectrum. It marks an important step in our commitment to address this challenge while providing customers with greater choice and a more affordable product.”
Jane Ashcroft CBE, Chief Executive of Anchor Hanover said: “The changing needs of our ageing society mean demand for specialist housing and care is strong and growing across all price points.
“We have ambitious plans to provide more homes where people love living in later life and to do so more quickly. We’re keen to work with a range of partners to meet that demand and support the government’s objective of more accessible housing for older people.”