Retirement specialist, Beechcroft, receives cash injection from Alchemy Special Opportunities
Alchemy Special Opportunities has turned its attention to the growth of the retirement property market, committing to invest in excess of £30 million in Beechcroft Developments; one of the country’s leading providers of high quality retirement property.
Beechcroft, currently marketing Queen Henrietta Place in Stow-on-the-Wold, has been developing high quality apartments, cottages and houses for the over 55s since 1984. Beechcroft developments generally include 20-30 homes, designed to meet customers’ needs for security, convenience and privacy; homes that provide fewer bedrooms rather than less living space. Many of Beechcroft’s developments are designed as garden courtyards and careful attention is paid to landscaping with several schemes including extensive grounds and even allotments . On all Beechcroft developments a strong emphasis is placed on property management and maintenance of both private and communal landscaping, allowing owners to make the most of their leisure time and to ‘lock up and leave’ for several months if they so wish.
Beechcroft builds predominantly on brownfield sites, located within easy reach of facilities in some of the most attractive market towns and villages in the southern counties. The Beechcroft team is experienced in the conversion and refurbishment of buildings of special architectural or historic interest and developments often include elements of both conversion and new build. Beechcroft’s current portfolio includes schemes in Surrey, Hampshire and Gloucestershire with forthcoming developments in Wiltshire and Hertfordshire.
Beechcroft’s Managing Director, Chris Thompson, comments:
“Alchemy’s timely cash injection will enable Beechcroft to invest in land. In the face of a national crisis in the retirement housing sector, Beechcroft has developed an ambitious strategy to acquire development land within its area of operation and to expand its portfolio of high quality housing in the under-supplied South of England.”
“The housing crisis is a result of the UK’s ageing population. The percentage of the population aged 65 and over increased from 15% in 1985 to 17% in 2010, representing an increase of 1.7 million people. By 2035, it is projected that 23% of the population will be aged 65 and over.* Unless action is taken now by policy makers and developers, it will be impossible to avert the housing crisis facing this ageing population. Build rates across all sectors of the retirement market need to grow four times from that prior to the 2007/8 downturn in order to cope with a moderate increase in demand.”
“A recent publication by the University of Reading, Housing markets and independence in old age: expanding the opportunities** highlights that there are only 100,000 specialist private retirement homes in the UK. Yet by 2033, there will be an extra 3.5 million households aged over 65 years, a 60% increase on today. Without suitable and affordable accommodation, these demographic changes could result in significant housing problems for the elderly. *”
For further information on Beechcroft, please visit the website on www.beechcroft.co.uk