Retirement Villages Group (RVG) has revealed the concept for its future collection of integrated retirement communities, which it says will deliver the critical change needed to cater for the UK’s growing, ageing population.
Thrive Living is largely an urban or peri-urban concept that will focus on regenerating local communities and town centres around the UK while providing an active, sociable, and connected life for older people.
The first two Thrive Living communities are under construction in Surrey and Chester, while planning consent was recently granted for a third site in Tunbridge Wells. Plans for a fourth site in West Malling, Kent are expected to be approved imminently while a site in Chigwell has been successfully acquired for the new brand’s fifth site.
RVG, owned by AXA IM Alts, is looking to invest in 40 Thrive Living communities across the UK within the next decade, creating 5,000 new homes and with an end value of £2billion. The Thrive Living communities will also put an emphasis on sustainability, with each designed to be whole of life net zero carbon across their entire development and operational lifespans.
At the same time as committing to ambitious growth through Thrive Living, RVG is announcing over £100million investment in its existing portfolio of communities. Plans are already well underway to provide additional homes and also significantly enhance the customer amenities including much-improved restaurants, cafes, bistro, and well-being facilities. This will enable positive active lifestyle opportunities for all the resident customers.
Will Bax, chief executive of Retirement Villages Group, said: “Today marks not only a huge day for Retirement Villages Group but also an incredible turning point for the sector. Our team is using their decades of experience to set new standards, and build state-of-the-art, sustainable communities that are connected to thriving local centres, to revolutionise independent retirement communities.”
“We’re incredibly excited for Thrive Living and the essential change it can drive in this country, helping address the national housing supply shortage whilst regenerating town centres. But, most of all, we are committed to rolling it out at a scale that will enable thousands of older people to live amazing, purposeful lives, as active members of thriving local communities, for many years to come.”
