Legal and General expands its urban later living business with new site in Walton-on-Thames
Guild Living, Legal & General’s new operator and developer of urban later living accommodation, announces the acquisition of a prime 2.5 acre town centre site in Walton-on-Thames. Having launched in Q2 2019, this site represents the third scheme currently under development for Guild Living, as it aims to deliver over 3,000 new homes in the next five years to meet the UK’s longevity and urbanisation needs. Subject to planning, the Walton site will deliver around 300 new age-appropriate homes for the local area.
Set in vibrant urban environments, Guild Living is striving to make a real impact on the way we age in UK cities, stepping out of the mould of traditional retirement operators and developers. Not only will its communities combine beautiful architecture and interiors, but it will focus on ground breaking and academically-accredited wellness programmes and activities, to support ageing happily, healthily and enabling members to live their best later lives. Members of a Guild Living community will be able to live independently, with flexible and supportive care available if and when needed.
Retirement communities play an important role in combatting loneliness and isolation. More than 2 million people in England over the age of 75 live alone and more than a million older people say they go for a month without speaking to a friend, neighbour or family member. The new later living community in Walton will have a key focus on enabling connectivity of its residents. Occupying a prime location in the heart of Walton’s town centre, the development will include a vibrant restaurant and wellness centre, alongside commercial and retail space and a children’s nursery – all open to the local community. Residents will also have access to expansive local parkland to the south of the scheme and a seven storey retail and leisure complex directly opposite.
The site in Walton has been purchased by Guild Living from British Land. Knight Frank advised Legal & General on the acquisition.
Eugene Marchese, Director of Design and Innovation at Guild Living, said: “Within just two months of launch, this latest acquisition brings the pipeline of homes we are delivering nearly 800 across the UK. But our ambition doesn’t end there and we aren’t just creating much-needed homes. We are striving to revolutionise the way we age in the UK, developing truly connected and enriched communities for our members. This not only means creating beautiful environments offering physical, social and cognitive activation. It means breaking away from the traditional model provided by UK retirement developers and operators to offer extraordinary outcomes. One key focus will be on undertaking a full programme of academic research to understand the real needs of our older population, adapting the way we build and run our communities to ensure our members can continue to live their best lives.”