Legal & General launches Guild Living, bringing retirement communities to UK city centres
Guild Living plans to deliver over 3,000 new homes in the next five years, meeting the UK's longevity and urbanisation needs.
Legal & General announces the expansion of its later living offering with the establishment of Guild Living a developer and operator of urban later living communities. Through Guild Living, it plans to deliver over 3,000 new homes over the next five years, equating to a Gross Development Value of around £2 billion.
Projections indicate that the number of over 85 year olds living in the UK is set to double by 2041 and treble by 2066 – by when there will be a further 8.6 million residents over the age of 65.1 Yet there has been a fundamental failure to address the specific housing, health and care needs of this demographic. Alongside population growth, urbanisation is an increasing global phenomenon. According to the UN, today 55% of the world’s population lives in urban areas and this is expected to increase to 68% by 2050. In the UK 83% live in an urban setting and during 2001 and 2011, the number of older people increased by 23.8% in OECD metropolitan areas.