An ‘affordable for all’ later living project has been announced by McCarthy & Stone and Anchor Hanover to help address the diverse needs of England’s growing ageing population.
Yesterday’s announcement, which has been welcomed by the Housing Minister, coincided with the United Nations’ International Day of Older Persons, which recognises the need to support an ageing population.
The partnership also meets the government’s objectives of increasing housing supply and improving access to care and support for older people.
John Tonkiss, chief executive of McCarthy & Stone said: “Now more than ever we need to better align adult social care policy with high-quality and ‘affordable for all’ retirement community solutions.
“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.”
The partnership will initially deliver 482 units across five sites, which are owned by McCarthy & Stone, and have planning consent, with a gross development value of £125m.
As part of the agreement, Anchor will pay £67m for the development of 316 extra care apartments, aimed at those in greatest need.
McCarthy & Stone will act as turn-key developer to Anchor, which is England’s largest not-for-profit provider of specialist housing and care for people in later life, to deliver the 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.
Jane Ashcroft, 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.”