Healthcare Vital Signs

URBAN RETIREMENT DEVELOPMENT With the lack of Greater London retirement options, there is a recent emergence of urban retirement living developments. There are many groups that are specifically focusing on Greater London and targeting urban, in-fill locations to accommodate the elderly who wish to remain in the city and close to transport and amenities. There is a disproportionate number of retirement options in the Central London market, largely due to the cost and the high barriers to entry in London. Retirement developers are beginning to capitalize on the London opportunity, though it is proving to come at a high price point. Goldman Sachs announced in September 2018 that they were backing Riverstone Living to invest £2bn to develop five to ten luxury urban retirement living developments in the prime inner boroughs of London. Amicala, Auriens and LifeCare Residences are all targeting urban London locations as well, with LifeCare Residences boasting their luxury Battersea Place property the only retirement community in London to date, and Auriens currently developing 55 private residences in the heart of Chelsea. Retirement Living continues to be an immense growth sector in the UK with many new investors and models entering the market. These Central London retirement developments are geared towards the high-end consumer and offer luxury accommodations with many hotel-like services to accompany the high price tags. With the scarcity of land that already exists in London, the emergence of additional players will continue to drive the competition for retirement sites within the Greater London market. 7 | CUSHMAN & WAKEFIELD