Legal & General has broken ground on its latest later living scheme, a 10-acre site in Chandlers Ford, Hampshire and gained planning permission for a new later living scheme in West Sussex.
Its development in Chandlers Ford, operated and developed by Inspired Villages, will create 151 new specialist age-appropriate homes. The works, which have now commenced, will create 110 construction jobs per annum over a four-year period, and more than 35 permanent jobs once complete. Chandlers Ford is Legal & General and Inspired Villages’ second net-zero housing development.
Inspired Villages has also achieved planning permission for a new later living scheme at Broadbridge Heath in West Sussex, creating 141 age-appropriate homes.
Both sites will offer facilities including a wellness centre with a fitness studio, gym and swimming pool, as well as tailored care packages and treatment suites for use by GPs and primary healthcare providers.
Kerrigan Procter, chief executive of Legal & General Capital said: “Having established ourselves as a housing provider around eight years ago, we have worked hard to accelerate the growth of our platform. In order to address the structural shortages across every dimension of the housing market, we have deployed institutional capital at scale to revolutionise affordable housing, later living, the urban and suburban rental market, build to sell and to speed up construction through modular housing.
“As we enter a period of economic recovery, businesses like ours must continue to invest in our future and it is more important than ever than we deliver the houses that our society really needs. As a country, we are still falling far short of the over 300,000 new homes needed each year and it is important that the homes we build are also future-proofed and sustainable. Our latest later living developments are a great example of this, meeting the increasing need for quality age-appropriate housing and moving towards our commitment to have a fully net-zero residential portfolio by 2030.”
Date published: June 2, 2021