Legal & General acquires second site in Hampshire for £100m retirement community
Inspired Villages, Legal & General’s later living business, announces that it has expanded its presence in Hampshire through the acquisition of a 10-acre site in Chandlers Ford, for the delivery of a new retirement community.
The site has been acquired with outline planning permission to develop 151 new specialist age-appropriate homes, meeting strong local demand.
The new Chandlers Ford site will deliver high quality facilities, including a wellness centre (comprising a fitness studio, gym and swimming pool), which will be available to local qualifying residents on a membership basis. Works are expected to commence on site early next year, creating 110 construction jobs per annum over a four year period, and 35+ permanent jobs once complete – further boosting the local economy and regional growth; playing an important role in a post-crisis economic bounce back.
Chandlers Ford will mark Inspired Villages second later living community in Hampshire, joining Bramshott Place near Liphook. The decision to acquire another site in Hampshire was a response to the vast disparity between supply and demand in the area for specialist housing. In 2017 it was estimated that there were over 41,000 over 65s in Hampshire, which is expected to rise to 91,600 by 2035 – an increase of over 200%. The scheme will not only help to meet this local demand, but also create significant benefits for Hampshire’s health and social care system, which has never been more important in light of the strain on health and social care services caused by Covid-19.