The UK’s leading developer and manager of retirement communities, McCarthy & Stone, has responded to Boris Johnson’s appeal for developers to “build, build, build” by actively searching for land in Horsham, as it looks set to make an investment of around £5million in older people’s housing in the town.
McCarthy and Stone is predicting a strong increase in the demand for retirement living in Horsham, given that the UK’s 65+ population is set to grow by 43 percent in the next 20 years, and it is seeking appropriate sites for the development of a new multi-tenure retirement community in the town.
A well as increasing the provision of apartments and bungalows for the over 60s, McCarthy and Stone communities typically provide retirees with the option of being able to purchase, rent, or part-buy part-rent their property, with tailored on-site care and support services available with the aim of helping them to enjoy an independent lifestyle in their later years. Providing a supportive environment with a community feel, McCarthy and Stone reported a lower impact of Covid-19 within its 441 developments than seen among the general over 65 population.
Representing a boost for the local employment market, an average McCarthy and Stone scheme of 40 apartments provides approximately 50 jobs for the duration of construction, with the company committed to using local sub-contractors, tradespeople and suppliers. When complete, each new community also results in the creation of up to 17 full and part time positions on-site.
Other significant potential benefits for the town include less pressure on local hospitals and care services, as it has been calculated that keeping older people healthier and happier amounts to an average saving of £3,500 per McCarthy and Stone customer. There would also be advantages for prospective homebuyers in Horsham, with more family-sized homes released to the market as older people downsize. These new housing chains typically end with first time buyers joining the property ladder.
McCarthy and Stone is searching for land in Horsham of between 0.5 to 5 acres, ideally with level access and in a prominent location close to the high street or to local amenities. This strategy is in direct support of